Thursday 28 Mar 2024
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NEW YORK (Jan 27): The US dollar rose in late trading on Thursday as market participants digested a slew of economic data, reported Xinhua.

The dollar index, which measures the greenback against six major peers, increased 0.19% to 101.8360.

In late New York trading, the euro was down to US$1.0889 from US$1.0914 in the previous session, and the British pound increased to US$1.2407 from US$1.2398 in the previous session.

The US dollar bought 130.21 Japanese yen, higher than 129.56 Japanese yen of the previous session. The US dollar climbed to 0.9198 Swiss francs from 0.9178 Swiss francs, and it decreased to 1.3334 Canadian dollars from 1.3381 Canadian dollars. The US dollar rose to 10.2691 Swedish Kronor from 10.2168 Swedish Kronor.

On the economic front, the US Commerce Department reported Thursday that US gross domestic product increased at an annual rate of 2.9% in the fourth quarter of 2022, beating the consensus, but still down from 3.2% in the third quarter.

US initial jobless claims, a rough way to measure layoffs, decreased by 6,000 to 186,000 in the week ending Jan 21, said the Labour Department. Economists polled by The Wall Street Journal had estimated new claims would total 205,000.

in Chicago, gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday on stronger than expected US economic data.

The most active gold contract for February delivery fell US$12.6, or 0.65%, to close at US$1,930 per ounce.  For the year of 2022 overall, US GDP grew 2.1%. US dollar rose following the GDP data, dampening gold. Other economic data released Thursday further dampened gold.

Silver for March delivery rose 7.9 cents, or 0.33%, to close at US$24.02 per ounce. Platinum for April delivery fell US$23.1, or 2.21%, to close at US$1,023 per ounce.

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