1 / 2

US DOLLAR SURGES IN EARLY TRADES

Thursday morning witnessed the US dollar showing some signs of a surge in the Asian market. However, it remained at the multi-week low side. Moreover, the laidback employment data of the US also limited the gains of the currency. The job report is supposed to guide the timing of the asset tapering timeline of the USD Federal Reserve.

32945
Download Presentation

US DOLLAR SURGES IN EARLY TRADES

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. US DOLLAR SURGES IN EARLYTRADES,SUSPENSE REMAINSOVERNON-FARMPAYROLLS Thursday morning witnessed the US dollar showing some signs of a surge in the Asian market.However, itremained atthe multi-weeklow side.Moreover,the laidback employment data of the US also limited the gains of the currency. The job report is supposed to guide the timing of the asset tapering timeline of the USD Federal Reserve. Notably, the US Dollar Index hiked to 92.507, up by 0.06 per cent at 2:38 AM GMT. Meanwhile, the USD/JPY pair slipped to 109.97 by 0.1 per cent. The AUD/USD pair plunged to 0.7361 by 0.03 per cent. However, Australia had displayed better trade data thanexpectedforthe Julymonth,earlierintheday. On a month-on-month basis, the imports increased by 3 per cent, while exports grew 5 per cent.Meanwhile,AUD 12.117billionremained thetradebalance. The NZD/USD pair skidded to 0.7063 by 0.08 per cent. Interestingly, investors are assured ofinterestrate hikesbytheReserve Bank ofNewZealandinOctober.

  2. The USD/CNY pair hiked to 6.4622, up by 0.06 per cent, whereas the GBP/USD pair increasedto1.3775 by0.05percent. Notably, the ADP nonfarm employment change remained 374,000 in August, as per the US data released on Wednesday. The forecast was doubled the number that camethrough. RodrigoCatril, thecurrency strategistoftheNationalAustralia Bank,saidthe numbers were not worth ignoring. He said that the figures pointed at the falling job reports and Fed asset tapering. Catril stated that risk assets were in profits following thebadnewsfor thelabourmarket.

More Related