The U.S. dollar barely budged on Thursday, a day after a dismal reading on U.S. first quarter GDP raised fears about the rest of the year.
The Federal Reserve voted to trim the size of its bond-buying plan expecting the pace of the recovery to pick up, but market will be on edge as second quarter data rolls out.
The news was mixed today, as the Institute for Supply Management released a report showing that its index of U.S. manufacturing activity rose by more than expected in the month of April.
The ISM said its purchasing managers index climbed to 54.9 in April from 53.7 in March, with a reading above 50 indicating growth in the manufacturing sector.
Personal income and spending in the U.S. both rose by more than expected in the month of March, according to a report released by the Commerce Department on Thursday, with spending rising at the fastest rate in over four years.
The report said personal income increased by 0.5 percent in March after rising by an upwardly revised 0.4 percent in February.
However, initial jobless claims rose more than expected to 344,000 last week, the Labor Department said.
The dollar was stuck at $1.3860 versus the euro, $1.69 against the sterling, and Y102.25 versus the yen.
Trading was light as most of Europe was closed for the May Day holiday.