The US dollar traded largely unchanged against major currencies on Thursday, stabilising following mixed readings from the latest batch of US economic data. A firmer dollar typically makes commodities priced in the greenback costlier for investors using other currencies.
Figures released on Wednesday indicated that the US labour market started 2026 on a stronger-than-anticipated note, bolstering expectations that the Federal Reserve could maintain higher interest rates for an extended period.
Nonfarm payrolls increased by 130,000 in January, compared with a downwardly revised gain of 48,000 in December, while the unemployment rate inched lower to 4.3 percent.
Data published on Thursday also showed initial jobless claims declined to 227,000 in the week ended February 7.
Separately, Federal Reserve Governor Stephen Miran said on Thursday that the central bank’s current policy stance poses risks to US economic expansion, which he noted is otherwise being supported by several policies of the Trump administration, including tax reductions. He reiterated his argument in favour of further rate cuts.
Market participants are now awaiting the release of inflation figures later in the day for additional clarity on the Fed’s future policy direction.
Among other precious metals, spot platinum climbed 1.7 percent to $2,033.15 per ounce, while palladium gained 1.4 percent to $1,639.99.