The U.S. dollar weakened against the other major currencies in the Asian session on Thursday, as traders await revised U.S. second quarter growth data, due later in the day.
The U.S. preliminary second quarter gross domestic product, pending home sales for July and weekly jobless for the week ended August 23 are due to be released in the New York session, which may give more clues about the economy.
Economists expect GDP growth to be at 3.9 percent, versus the previous estimate of 4.0 percent.
In the New York session overnight, the U.S. dollar fell against most major currencies on profit taking.
The U.S. dollar fell to 6-day lows of 1.3216 against the euro, 103.67 against the yen and 0.9130 against the Swiss franc, from early highs of 1.3187, 103.91 and 0.9150, respectively. If the greenback extends its downtrend, it is likely to find support around 1.33 against the euro, 102.77 against the yen and 0.90 against the franc.
Against the pound, the greenback edged down to 1.6603 from an early high of 1.6570. The greenback may test support near the 1.67 region.
Looking ahead, German Unemployment Change for August is due at 3:55 am ET.
In the European session, Eurozone business climate index and consumer sentiment for August are due to be released.
In the New York session, German consumer price index for August and Canada current account for the second quarter are due to be released.
The material has been provided by InstaForex Company – www.instaforex.com