Welcome to Tuesday!
Evergreen buck is still robust against yen
On Thursday, the key US currency held steady against the Japanese yen after yesterday's recovery. It’s because stock prices rallied after the sell-off provoked by the escalation of trade relations between the US and China.
The US dollar added 0.15% versus its key Japanese counterpart offering an outcome of 106.930 yen, having soared from a minimum of 105.990 reached yesterday.
The recovery of US equities helped the greenback to climb up, as the problems of the trade war somewhat calmed down after Donald Trump’s economic advisor Larry Kudlow told that the presidential administration is currently negotiating with China and it’s not participating in the trade war.
Now market participants shifted their attention to data from the US labor market, which will be published on Friday. According to average forecasts, in March the overall number of folks employed in the non-agricultural sector of the US economy increased by 198 thousand after a leap of 313 thousand in February.
The Australian dollar declined after yesterday's growth, despite positive data on the index of activity in the services sector of Australia.
In March, the service activity index, published by the Australian Industrial Group, tacked on to 56.9 from 54 in February, which appears to be the highest result since December 2016.
According to the AiG report, new orders, sales, employment as well as wages have been improved since the previous month.
The Australian economy is in a very good condition in early 2018, at least as follows from recent economic data.
Retail sales increased strongly in February, employment surge continues, and activity levels in the manufacturing sector of the country are also improving, although at a slower tempo.
Besides this, the service sector of Australia, which is the largest in the country and, therefore, the most crucial, is also gaining momentum.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…