Trading news

U.S. dollar weakens after employment data

Weekly synopsis

The U.S. dollar, following the U.S.'s employment report having shown that growth in jobs overcame the forecasts, fell on Friday. The U.S. dollar index traded to 99.69, 0.14% lower.

U.S. adds 227,000 jobs in January

The economy in the U.S., as per the Labor Department, introduced, for January, 227,000 jobs, with the rate of unemployment for December rising from 4.7% to 4.8%.

The USD/JPY pair traded to 112.64, declining 0.13% ending the week 1.75% lower. The EUR/USD reached the 1.0783 zone, appreciating 0.22%, the GBP/USD approached the 1.2483, falling 0.32%.

Weekly major events

On Monday, China will release its Caixin services PMI data, Germany its factory orders report, and Australia its retail sales figures.

On Tuesday, the U.S. is to publish its trade data, U.K its house price inflation, New Zealand its inflation estimations, Canada its business activity and building permits, and RBA will be announcing its rate statement and benchmark interest rate.

On Wednesday, the European Commission will be announcing its economic predictions for the European Union (EU).

On Thursday, Australia is to announce its business confidence figures, Canada its new house price inflation, the Reserve Bank of New Zealand its monetary policy decision, and the U.S. its initial jobless claims data.

On Friday, the U.K will be producing its trade and manufacturing production data, and the U.S. its consumer sentiment report. China shall release its trade figures, and the RBA its monetary policy statement.

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ArgusFX Review

Monday, 06 Feb, 2017 / 1:39

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Source : https://www.argusfx.com/en/research-education/market-analysis/weekly/u.s.-dollar-weakens-after-employment-data

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