Dollar supported after jobless claims; Philly Fed manufacturing index

The greenback was slightly lower Thursday as investors locked in profit-taking, but was still supported after the fresh economic data.

EUR/USD was last seen at 1.0684, up 0.23%, while GBP/USD was also higher at 1.5260, up 0.18%.

USD/JPY was down 0.39% at 123.15.

The U.S. Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending November 14 fell by 5,000 to a seasonally adjusted 271,000 from the previous week’s total of 276,000.

First-time jobless claims have been below the 300,000-level for 36 weeks in a row, which is usually associated with a strong labor market.

Continuing jobless claims in the week ended November 7 dropped to 2.175 million from 2.177 million in the previous week. Economists had expected continuing claims to decline to 2.170 million.

The four-week moving average was 270,750, an increase of 3,000 from the previous week’s total of 267,750. The monthly average is seen as a more precise measurement of labor trends because it lowers volatility in the week-to-week data.

Separately, the Federal Reserve Bank of Philadelphia reported that its manufacturing index rose to 1.9 in November from October's reading of -4.5. Economists had expected the gauge to rise to -1.0 in November. A reading above 0.0 signals improving conditions, anything below zero indicates conditions got worse.

Indexes for new orders and shipments remained in the negative territory, though they increased from lower readings in October. This month, companies reported slight increases in overall employment, but declines in average work hours.

Manufactured goods prices were almost unchanged. The poll's future indicators showed improvement. Only a small share of companies expect a downturn in business activity over the next half a year.