The U.S. dollar index that tracks the greenback against a basket of other currencies gained 0.05% to 96.06 by 9:29 PM ET
Meanwhile, the Chinese yuan weakened against the dollar as the USD/CNY pair rose 0.18% to 6.9334. Chinese Customs data out on Thursday showed that China’s exports in October jumped 15.6% year-on-year, a hike from September's 14.5% increase. Reuters had earlier forecasted a slowdown to 11% growth.
The People's Bank of China (PBOC) set the yuan reference rate at 6.9163 vs the previous day's fix of 6.9065
• "The dollar is likely to benefit as we still expect the Fed to maintain its hawkish stance. The U.S. economy needs rising rates as wage pressures are building and there is a risk of an overheating of the economy,” said Sim Moh Siong, currency strategist at Bank of Singapore.
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• The U.S. Federal Reserve began its policy meeting on Wednesday facing a shifting political landscape but little in recent economic data to alter plans for an interest rate increase in December and more to come next year.
The Fed is not expected to raise rates at its two-day session that ends Thursday, a meeting that follows a renewal of volatility in stock prices, tightening credit markets, and a spreading expectation that the U.S. economy will slow next year.
• The Italian government coalition deal between the League party and the 5-Star Movement would collapse if no agreement is reached over statute of limitations measures, Deputy Prime Minister Luigi Di Maio was quoted as saying on Thursday.
He also confirmed that on Thursday he would meet with Prime Minister Giuseppe Conte, deputy prime minister and League leader Matteo Salvini, and Justice Minister Alfonso Bonafede.
• China reported much stronger-than-expected exports for October as shippers rushed goods to the United States, its biggest trading partner, racing to beat higher tariff rates due to kick in at the start of next year.
Import growth also defied forecasts for a slowdown, suggesting Beijing’s growth-boosting measures to support the cooling economy may be slowly starting to make themselves felt.
But analysts continue to warn of the risk of a sharp drop in U.S. demand for Chinese goods early in 2019, with all eyes now on whether presidents Donald Trump and Xi Jinping can make any breakthroughs on trade when they meet later this month.
China’s exports rose 15.6 percent last month from a year earlier, customs data showed on Thursday, picking up from September’s 14.5 percent and beating analysts’ forecasts for a modest slowdown to 11 percent.
• Oil prices rose on Thursday after record Chinese crude imports eased concerns that a slowdown in the world’s No.2 economy could stoke an emerging fuel glut.
However, oil markets were held back somewhat after the United States became the world’s top crude producer as its output hit record levels.
Front-month Brent crude oil futures were at $72.20 a barrel at 0717 GMT, up 13 cents, or 0.2 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $61.83 per barrel, up 16 cents, or 0.3 percent, from their previous settlement.
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