Daily Afternoon Report 13.07.2017

The dollar remained under pressure after mixed U.S. data and ahead of Fed Chair Janet Yellen testimony to the Senate.

The dollar index was off 0.06% at 95.49 at 09:15 ET. The euro edged higher against the dollar above the $1.14 mark.

The number of Americans filing for unemployment benefits fell in the past week for the first time in a month.

Initial jobless claims were down 3,000 from the previous week at 247,000, the Labor Department said Thursday.

The previous week’s figure was revised upward to 250,000 from 248,000.

Economists had expected jobless claims to fall to 245,000.

Meanwhile, the producer price index in June was up 0.1% from May when it was expected to fall by 0.1%.

On a year-on-year basis, PPI growth came in at 2.0%, compared with a forecast of 1.9%.

However, core PPI missed estimates.

In prepared remarks to the House Wednesday, Yellen advocated gradual tightening but noted anemic inflation.