Brazil is struggling on both the humanitarian and the financial frontы. As a result, Brazilian real is weakening
Greenback approaches 16-month maximums
On Wednesday, the evergreen buck fluctuated near 16-month maximums versus its counterparts on data disclosing that the private labor market was still firm. However, profits were tamed by a soar in the British currency on expectations for a Brexit deal.
Tracking the purchasing power of the greenback against a pack of its key opponents the USD index surged by 0.11% being worth 96.90.
As for the labor market, for the month private payrolls inched up by 227,000, which is above the 218,000 recorded in September. It surpassed experts’ estimates of 189,000.
The positive private labor data appeared to be shocking to some financial analysts, who were expecting private-job gains to be squeezed by fallout from Hurricane Florence.
The firm profits in the private job market showed up two days ahead of the highly-anticipated government nonfarm payrolls report.
Profits in the evergreen buck were tamed by an uptick in the British currency after a letter by Brexit Minister Dominic Raab showed that the EU and the United Kingdom could come to a compromise on a Brexit deal by November 21.
However, the British pound gave up some profits versus the evergreen buck after British Prime Minister Theresa May's spokesman didn’t want to specify the Brexit deal date.
When asked about Raab’s letter May’s spokesman, he told that he they were eager to conclude the deal as soon as they can.
The currency pair GBP/USD headed north by up to 0.45% coming up with an outcome of $1.2763, although staying below session maximums of $1.2831.
The currency pair EUR/USD went down by 0.33% being worth $1.1306 suppressed by weaker-than-anticipated retail sales surge in Germany.
The currency pair USD/CAD rallied by 0.40% trading at C$1.3162 because the Canadian dollar struggled to leverage stronger-than-anticipated surge data from Canada.
The currency pair USD/JPY lost 0.10% showing Y113.02.
USD/CHF and EUR/CHF rose to tactical highs. What's next?
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
Jump in to know the latest market news and trade ideas for today!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.