The dollar edged higher yesterday as US jobless claims fell to a multi-decade low, providing optimism for Non-Farm payroll data which will be released later today. The data is expected to show that 180K new jobs have been created in March.
The dollar also made gains due to mixed hawkish remarks from the Federal Reserve. Federal Reserve Bank of Philadelphia President Patrick Harker said he sees “at most” one rate hike in 2019 and one in 2020. Federal Reserve Bank of Cleveland President Loretta Mester, meanwhile, hinted at the possibility of higher rates should the economy pick up momentum.
This morning, the dollar was flat against most major currencies.
In US-China Trade deal news, talks resumed in Washington yesterday. Despite positivity surrounding the talks, a date has not yet been announced for a trade summit between President Trump and President Xi Jinping. However, they do appear to be in the final stages of the talks now, as Trump administration officials have cited progress on several difficult issues.
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