(RTTNews) - The dollar was generally stronger versus other major currencies Thursday morning in New York as traders looked ahead to fresh data on the labor markets in the form of a key prelude to tomorrow's pivotal government jobs report.
At 8:30 am ET, the Labor Department is due to release its weekly jobless claims report for the week ended September 26th. Economists estimate claims to rise modestly to 535,000.
Around the same time, the Bureau of Economic Analysis will release its personal income and spending report. Economists estimate the report to show that personal income rose 0.1% and the personal spending increased 1.1% in the month.
The dollar rallied versus the euro Thursday morning, taking back its looses from the previous session as traders continued to position themselves ahead of tomorrow's jobs report.
Any encouraging news on the jobs front will likely fuel risk appetite, favoring higher yielding currencies like the euro. Conversely, evidence that the jobs situation remains bleak should boost the safe haven dollar.
The buck was at 1.4533 versus the euro, coming close to a 2-week high of 1.4526 set on Tuesday. With the loss, the dollar moved further from a yearly low of 1.4843 set earlier this month.
Eurozone manufacturing sector improved more than initially estimated in September, a final report from Markit Economics said on Thursday.
Back in the US, a report based on the ISM's national manufacturing survey is scheduled to be released at 10 am ET.
The dollar continued to move sideways against the yen this morning, holding just below the 90 mark. Last week, the buck hit an 8-month low of 88.21, but has stabilized since Japanese officials hinted they may intervene to prevent the yen from accelerating higher.
The dollar was little-changed versus the sterling today, bouncing back and forth around 1.6000 for a second day.
Against the petro-linked loonie, the dollar improved to C$1.0750, taking back some of its losses from the previous session. The dollar weakened yesterday as the price of oil spiked above $70.
