2020.04.2321:35:00UTC+00Dollar Mostly Subdued Against Peers

The U.S. dollar recovered after a mid-session setback and traded slightly higher against some of its peers on Thursday, with traders digesting economic data from across the globe and tracking news about the virus pandemic and geopolitical issues.

The dollar index, which dropped to 100.04 around mid morning, recovered gradually and was last seen hovering around 100.50, up 0.12% from previous close.

Against the Euro, the U.S. dollar firmed up to $1.0794 from Wednesday's close of $1.0823. The euro area private sector suffered its steepest falls in business activity and employment due to the measures taken to contain the spread of coronavirus, flash survey data from IHS Markit showed.

The flash IHS Markit composite output index plummeted to an all-time low of 13.5 in April, down from a prior record low of 29.7 in March. This was the largest monthly collapse in output recorded in over two decades of survey data collection.

The services Purchasing Managers' Index plunged to a record low 11.7 from 26.4 in March, while the manufacturing PMI came in at 33.6, down from 44.5 in the previous month.

Against Pound Sterling, the dollar edged down to $1.2340.

The Japanese Yen gained against the dollar, trading at 107.64 a dollar, compared to 107.75 a dollar Wednesday evening.

The Aussie gained against the dollar, rising to $0.6358 from its previous close of $0.6323.

The Swiss franc eased to CHF 0.9739 from CHF 0.9713, while the Loonie firmed up to 1.4124 a dollar, from $1.4161, thanks to another jump in crude oil prices.

In U.S. economic news, more than 4 million people filed first-time claims for U.S. unemployment benefits in the week ended April 18th, according to a report released by the Labor Department on Thursday. That reflects a continued decline from the nearly 7 million people that filed first-time claims in the last week of March.

The Labor Department said initial jobless claims dropped to 4.427 million, a decrease of 810,000 from the previous week's revised level of 5.237 million. Economists had expected jobless claims to slump to 4.200 million from the 5.245 million originally reported for the previous week.

A report released by the Commerce Department showed new home sales plunged by 15.4% to an annual rate of 627,000 in March after tumbling by 4.6% to a revised rate of 741,000 in February. With the steep drop, new home sales pulled back further off the more than twelve-year high of 777,000 set in January.