Forex
The dollar is rising against world currencies after the release of statistics from the U.S.
The dollar rose against major world currencies on Friday night, including the euro and yen, according to trading data. Markets are assessing strong U.S. labor market statistics.
The euro-dollar exchange rate was down to $1.1 from the previous close of $1.1011 and the dollar-yen exchange rate was up to 134.81 yen from 134.27 yen. And the dollar index (the exchange rate against a basket of currencies from six U.S. trading partners) was up 0.17%, to 101.57 points.
Last month’s U.S. unemployment macro-statistics were released before the opening of trading. According to official data, the unemployment rate in April unexpectedly decreased to 3.4% from the March level of 3.5%, while analysts expected the growth to 3.6%. The number of those employed in non-farm industries increased by 253,000 instead of the expected 180,000. Strong statistics supported the U.S. currency.
Statistics are one of the most important indicators for the U.S. Federal Reserve (Fed) when deciding on monetary policy. Now, according to the CME Group, 97.2% of analysts lay the Fed rate at 5-5.25% per annum in June, while the remaining 2.8% still allow it to increase by 25 basis points.
The negative statistics on the euro area constrain the euro. Thus, euro area retail sales fell by 1.2% in March against February, though only a slight decline of 0.1% was expected. In annual terms, the volume of retail sales in the euro area in March decreased by 3.8%. Analysts had expected a 3.1% decline.
Earlier, we reported that Powell’s speech: we may already be at a fairly restrictive level, not far from it.
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