On Thursday, the UK currency managed to ascend after news that British Prime Minister Theresa May had support from her government for a draft Brexit pact secured…
Greenback jumps on August jobs data
On Friday, speeding up wage surge provided a moderate lift for the evergreen buck, thus offsetting the weekly loss for the USD index.
As the Labor Department informed, in August, the American economy generated up to 201,000 fresh jobs, while the unemployment rate didn’t change, sticking with an 18-year minimum of about 3.9%. As for the major event for market participants, it happened to be the wage component that demonstrated a 0.4% monthly ascend in average pay, thus surpassing hopes for a 0.2% leap. Besides this, year-over-year wage growth accounted for 2.9% in contrast with July’s reading of 2.7%.
The currency pair EUR/USD hit $1.1576.
The evergreen buck hit 110.96 versus the Japanese yen, adding about 0.21%.
A widely-utilized gauge of the purchasing potential of the evergreen buck versus its main counterparts the USD index hit 95.15, jumping up to 0.17%.
With activity booming as well as core PCE inflation having ascended to the 2% objective, the ongoing strength of the labor market keeps the major US financial institution firmly on track to have interest rates lifted twice more in 2018, starting with a 25 lift at the FOMC gathering in two weeks’ time. By the way, interest rate lifts tend to back the evergreen buck.
The US government is highly anticipated to slap levies of up to 25% on $200 billion in China’s products in the nearer future.
The overall US dollar strength along with the Fed’s slow, although steady tightening tempo as well as indications that loose monetary policies by other key financial institutions will be rolled back, are definitely driving stress in emerging market currencies.
Those countries with high current-account deficits have been closely watched for their exposure to greenback-denominated loans that are harder to service because the evergreen buck goes up.
On Wednesday, the major US currency managed to pare back earlier profits…
On Tuesday, the evergreen buck kept to the highest levels of 2018 against the backdrop of hopes for higher American interest rates, while the UK currency rebounded from one-and-a-half week minimums notwithstanding everlasting Brexit uncertainty…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…