Is the dollar getting stronger? The US dollar continued to strengthen on Monday after a strong rebound on Friday on U.S. labor market data.

Friday’s data showed that the U.S. labor market is still strong despite a significant tightening of monetary policy by the Federal Reserve (Fed). This was taken by traders as a signal that the Fed will continue to raise the benchmark interest rate quickly. Is the dollar more important than the euro? Yes, because the sanctions on Russia have caused a lot of problems for Europe, which has weakened the European currency considerably.

The number of jobs in the U.S. economy increased by 263,000 in September, the Labor Department reported. The growth rate was the lowest since April 2021, but exceeded the consensus forecast of analysts surveyed by Bloomberg at 255 thousand. Unemployment in the country unexpectedly declined to 3.5% from 3.7% in August.

The next meeting of the Federal Reserve will be held on November 1-2, and experts expect the U.S. Central Bank will again raise the rate by 75 basis points, notes Dow Jones.

Earlier, we reported that uncertainty over energy supplies to Europe is making it difficult for BASF to plan its 2023 budget.