Dollar weaker following U.S. employment data

Weekly synopsis

The dollar traded weaker versus its main counterparts last Friday, following the employment report release in the U.S. having shown that the growth in jobs surpassed the estimations.

U.S. introduces 235,000 jobs

The economy in the U.S., for the month of February, introduced 235,000 jobs compared to the previous month, as the construction industry reported its biggest gain in a period of 10 years, the Labor Department stated on Friday.

The rate of unemployment dropped from 4.8% to 4.7% while the average hourly earnings climbed only 0.2% and were below the expectations for a 0.3% appreciation.

The U.S. dollar index reached the 101.38 zone dropping 0.6%, amid previously touching the 101.17 level.

The USD/JPY pair reached the 114.80 level dropping 0.15%, the EUR/USD to 1.0678 rising approximately 1%, and the GBP/USD pair approached the 1.2134 area appreciating 0.1%.

Weekly major events

On Monday, Japan will be releasing its core machinery orders data.

On Tuesday, the U.S. it to publish its producer price inflation, China its fixed asset investment and industrial production figures, and Germany its economic sentiment.

On Wednesday, the U.S. will be publishing its manufacturing activity for New York, its retail sales and consumer price inflation, the U.K its monthly employment data, and Switzerland its producer prices data. The FED is to announce its decision on monetary policy, and Janet Yellen will be holding a conference on financial forecasts.

On Thursday, the U.S. is to publish its manufacturing activity for Philadelphia, its housing starts, building permits, and jobless claims, the BOE its policy meeting minutes and interest rate decision, Canada its foreign securities purchases, the SNB its monetary policy assessment and decision on Libor rate, the euro zone its CPI, New Zealand its GDP for Q4, Australia its monthly employment report, and the Bank of Japan its policy statement and benchmark interest rate data.

On Friday, the U.S. will be rounding up its consumer sentiment, and Canada is to publish its manufacturing sales report.

Read More

ArgusFX Review