Dollar Mixed After U.S. Jobs Data
06 Mayo 2022 - 05:20AM
RTTF2
The U.S. dollar showed mixed trading against its major
counterparts in the European session on Friday, following the
release of upbeat jobs data for April.
Data from the Labor Department showed a stronger than expected
job growth in the month of April.
The report showed non-farm payroll employment surged by 428,000
jobs in April, matching the revised jump seen in March.
Economists had expected employment to climb by 391,000 jobs
compared to the addition of 431,000 jobs originally reported for
the previous month.
Meanwhile, the Labor Department said the unemployment rate came
in unchanged at 3.6 percent. The unemployment rate was expected to
edge down to 3.5 percent.
The currency rose against its major counterparts in the Asian
session, except the pound.
The greenback rebounded modestly against the franc, with the
pair trading at 0.9880. At yesterday's trading close, the pair was
quoted at 0.9846. The greenback is likely to face resistance around
the 1.00 region, if it gains again.
Data from the State Secretariat for Economic Affairs showed that
Switzerland's unemployment rate remained unchanged in April.
The unemployment rate was a seasonally adjusted 2.2 percent in
April, same as seen in March. This was in line with economists'
forecast.
The greenback rose back to 130.71 against the yen, on track to
pierce a 1-week high of 130.81 seen in the Asian session. The pair
had closed Thursday's deals at 130.18. On the upside, 132.00 is
seen as its next immediate resistance level.
After climbing to an 8-day high of 1.0483 against the euro at
2:45 am ET, the greenback turned lower and was trading at 1.0574.
The pair was worth 1.0540 when it closed deals on Thursday. The
greenback is poised to find support around the 1.08 level.
Data from Destatis showed that German industrial production
declined more than expected in March.
Industrial output was down 3.9 percent month-on-month in March,
much bigger than the economists' forecast of -1.0 percent and
reversed February's revised 0.1 percent rise.
The greenback staged a rebound against the pound and was trading
at 1.2318. This may be compared to a multi-year high of 1.2276 it
touched at 2:55 am ET. The pound-greenback pair had ended
yesterday's trading session at 1.2358. The greenback is seen
finding resistance around the 1.20 mark.
Looking ahead, U.S. consumer credit for March and Canada Ivey
PMI for April will be published in the New York session.
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