On Thursday, the dollar index gave up 0.17 percent to 90.20 points, while the euro remained nearly steady at $1.2161. Since its low on January 6 in the session, the greenback has jumped more than 1 percent, taking advantage of higher interest rates and growth forecasts in the future, thanks to the predicted economic rebound.
On the inflation front, the consumer price index, released on Wednesday, increased on a month-on-month basis by 0.4 percent in December, compared to -0.2 percent in November. Year-on-year, rates grew by 1.4 percent, but well below the 2 percent target of the US Federal Reserve.
Import prices increased by 0.9 percent on a month-on-month basis in December, released on Thursday, after -0.1 percent in November, and fell by a further 0.3 percent year-on-year. On the other hand, export prices rose 1.1 percent over one month and progressed year-on-year by 0.2 percent.
As for the labor market, the latest Covid-19 surge, which contributed to 140,000 job losses in December, remains heavily impacted by the first drop after 5 months of recovery. These problems were supported by the weekly figures released on Thursday: unemployment registers increased sharply to almost one million (965,000) for the week ending 9 January, up 181,000 from the previous week. Since August, applications have risen to the highest level and have been dramatically higher than anticipated, with a consensus of 789,000.
On the health front, the coronavirus vaccine program continues to be a race against time in Europe and the United States as the number of cases continues to increase, especially as new variants of the virus spread. France declared a curfew on Thursday at 6 p.m. Though China announced its first Covid-19 death in April, across its territory and strengthened border controls.
The number of deaths from coronavirus now reaches 1.98 million worldwide, including more than 386,000 in the United States, the pandemic’s most bereaved country. With 4,400 Covid-19 fatalities and 3,922 fatalities on Wednesday, Tuesday was the deadliest day in the United States, according to statistics gathered by the New York Times.
More than 10.3 million Americans have received the first vaccination injection since the launch of the immunization program, and 29.3 million doses have been put on the market, respectable numbers, but that are smaller than the original estimates of the U.S. officials.
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