• The dollar was little changed against a basket of currencies on Thursday, as its rebound from a five-week low, touched earlier this week, ran out of steam amid subdued trading activity ahead of the long Easter weekend in many of the world’s largest trading centers.
The dollar index .DXY, which measures the greenback against a basket of six other major currencies, was about flat on the day at 90.062. The index was down more than 2 percent for the quarter, its fifth straight quarter of declines.
The euro rose against the dollar as stronger-than-expected German unemployment data pointed to continued strength in the euro zone’s largest economy, but the currency failed to hold gains and was trading little changed on the day.
• The number of Americans filing for unemployment benefits fell to more than a 45-year low last week, suggesting the economy remains strong despite signs of a slowdown in the first quarter.
Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 215,000 for the week ended March 24, the lowest level since January 1973, the Labor Department said on Thursday. Data for the prior week were revised to show 2,000 fewer claims received than previously reported.
The revisions did not change the theme of tightening labor market conditions. Claims have now been below the 300,000 threshold, which is associated with a strong labor market, for 158 straight weeks. That is the longest such stretch since 1970, when the labor market was much smaller.
• U.S. President Donald Trump said on Thursday his infrastructure plan will likely have to wait until after the November congressional elections.
• Investigators probing whether Donald Trump’s presidential campaign colluded with Russia have been questioning witnesses about events at the2016 Republican National Convention, according to two sources familiar with Special Counsel Robert Mueller’s inquiries.
Mueller’s team has been asking about a convention-related event attended by both Russia’s U.S. ambassador and Jeff Sessions, the first U.S. senator to support Trump and now his attorney general, said one source, who requested anonymity due to the ongoing investigation.
Mueller’s interest in what happened at the Republican convention in Cleveland, Ohio in July 2016, is an indication that Trump campaign contacts and actions related to Russia remain central to the special counsel’s investigation.
• Russia expelled 60 U.S. diplomats on Thursday and announced it would eject scores from other countries that have joined London and Washington in censuring Moscow over the poisoning of a spy.
The U.S. ambassador was also ordered to shut the consulate in St Petersburg, in Russia’s retaliation for the biggest expulsion of diplomats since the Cold War.
• U.S. President Donald Trump said on Thursday he may hold up a trade agreement reached this week with South Korea until after a deal is reached with North Korea on denuclearization.
• Japan’s industrial output rose 4.1 percent in February from the previous month, government data showed on Friday, in a sign of a recovery in corporate activity.
• Oil prices rose on Thursday as the equities markets rallied and as market participants weighed a rise in U.S. crude inventories and production against continued OPEC supply curbs.
Prices for the more actively traded June Brent crude futures LCOc2 were up 58 cents to settle at $69.34, while the May contract LCOc1 expiring on Thursday was up 74 cents at $70.27.
West Texas Intermediate (WTI) crude futures CLc1 gained 56 cents to settle at $64.94.
Thai
Eng