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The U.S. dollar traded mixed to higher against the most major currencies after the mixed U.S. economic data. The he Philadelphia Federal Reserve Bank released its manufacturing index on Thursday. The index dropped to 6.3 in January from 24.5 in December. That was the lowest level since February 2014. Analysts had expected the index to decline to 20.3.
The U.S. producer price index dropped 0.3% in December, in line with expectations, after a 0.2% decrease in November. That was the biggest decline since October 2011.
On a yearly basis, the producer price index increased 1.1% in December, missing expectations for a 1.2% gain, after a 1.4% rise in November.
The decline was driven by a decline in oil prices.
The producer price index excluding food and energy gained 0.3% in December, beating forecasts of a 0.1% increase, after a flat reading in November.
On a yearly basis, the producer price index excluding food and energy climbed 2.1% in December, exceeding expectations for a 2.0% increase, after a 1.8% gain in November.
The number of initial jobless claims in the week ending January 09 in the U.S. rose by 19,000 to 316,000 from 297,000 in the previous week. The previous week's figure was revised down from 294,000. Analysts had expected the number of initial jobless claims to increase to 299,000.
The NY Fed Empire State manufacturing index climbed to 9.5 in January from a revised reading of -1.23 in December, exceeding expectations for a rise to 5.3.
The euro dropped against the U.S. dollar as the Swiss National Bank (SNB) announced today that it will discontinue the 1.20 per euro exchange rate floor.
Investors speculate that the European Central Bank could decide on its policy meeting on January 22 to purchase government bonds.
Eurozone's trade surplus widened to €20.0 billion in November from €19.6 billion in October, missing expectations for a rise to €21.3 billion. October's figure was revised up from a surplus of €19.4 billion.
The increase was driven by a weaker euro and falling oil prices.
The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K.
The Swiss franc traded higher against the U.S. dollar, after dropping in the morning trading session as the Swiss National Bank announced today that it will discontinue the 1.20 per euro exchange rate floor. But the SNB added that will remain active in the foreign exchange market.
The New Zealand dollar traded mixed against the U.S. dollar in the absence of any major economic reports from New Zealand. In the overnight trading session, the kiwi traded higher against the greenback.
The Australian dollar traded mixed against the U.S. dollar. In the overnight trading session, the Aussie rose against the greenback after the better-than-expected labour market data. Australia's unemployment rate fell to 6.1% in December from 6.2% in November, beating expectations for a rise to 6.3%. November's figure was revised up from 6.3%.
The number of employed people in Australia rose by 37,400 in December, exceeding expectations for an increase by 5,300, after a gain by 44,900 in November. November's figure was revised up from an increase by 42,700.
The Japanese yen traded lower against the U.S. dollar in the absence of any major economic reports from Japan.
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