The dollar crawled slightly higher against a basket of major currencies on Thursday but stayed close to a three-week low hit in the previous session, when data showed the U.S. economy all but stalled in the first quarter.
With much of Asia shut for public holidays, and ahead of the key U.S. jobs report on Friday, major currencies mostly stuck to their recent ranges.
This light activity muted the impact of economic data from China that fell slightly short of forecasts. China’s official Purchasing Managers’ Index showed factory activity increased marginally in April but export orders fell sharply, raising fresh doubts about whether the world’s second-largest economy was stabilizing.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.