Dollar slips on impeachment news; Aussie climbs on jobs data
- USD dropped in Asia after the U.S. House of Representatives voted to impeach Donald Trump for abuse of power and obstruction of Congress.
- Economists expect sales of existing homes to have dropped 0.2% last month to an annual rate of 5.44 million.
- Economists expect the Philly Fed Index to come in at 8 for the month from 10.4 in November.
On Thursday, the USD dropped in Asia after the U.S. House of Representatives voted to impeach Donald Trump for abuse of power and obstruction of Congress.
Donald Trump is the third president to be impeached in U.S. history. However, he is likely to survive a trial in the Republic-led Senate. The Senate will vote in January.
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The U.S. dollar index dropped 0.1% to 96.925 by 11:30 PM ET.
Jobs and home sales data
The National Association of Realtors will release data on existing home sales for November on Friday.
Economists expect sales of existing homes to have dropped 0.2% last month to an annual rate of 5.44 million.
Initial jobless claims are also due.
Economists are looking for a drop in claims for the first-time unemployment benefits to 255,000.
Meanwhile, the Philadelphia Federal Reserve will also release its manufacturing index for December on Friday.
Economists expect the Philly Fed Index to come in at 8 for the month from 10.4 in November.
The index tracks manufacturing in Pennsylvania, New Jersey, and Delaware.
The USD/JPY pair gained 0.1% to 109.57 after the Bank of Japan kept its policy unchanged on Thursday morning.
The central bank maintained its forward guidance, saying it expected rates to remain low or lower as long as there was a chance of losing price momentum.
The decision was mostly in line with expectations.
The Australian dollar climbed 0.3% against the U.S. dollar to reach 0.6875 after data showed the country’s unemployment unexpectedly in November declined.
Employment jumped 39,900 last month, compared with economists’ estimates of a 15,000 gain, data from the Australian Bureau of Statistics showed Thursday.
The NZD/USD pair also gained 0.1% to 0.6591 after the country’s third-quarter economic growth came in stronger than expected.
The GBP/USD pair recovered and inched up 0.1% to 1.3082 after falling this week amid renewed concern of a possible no-deal Brexit.