US dollar generally stable on upcoming US labour data

Posted 04 May, 2018

US dollar has generally stabilized against the majors on Friday. The currency is no longer at the multimonth peak on profit-taking. At the same time, investors waited for labor data in the USA.

The US Dollar index was at 92.40 this morning, compared to 92.83 recorded in the middle of the week.

As it was reported earlier, US Federal Reserve left did not revise the interest rate after this-week meeting and expressed confidence in the stable inflation growth to the target 2% that was observed lately. This means that there is still chance that the interest rate can be increased in June.

The April labor data will be released on Friday can give signs of further strengthening of the US labor market and heavier inflation pressure.

As a result, the greenback will most likely move up, especially against the euro, in case of a steady salary upturn, as commented a market analyst.

The European currency showed clear trend neither. It changed hands vs the dollar at 1.1964. On Thursday, the euro gained some 0.3% despite the reports about slower inflation in the euro-area.

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04 May, 2018 11:54

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Inflation slower but euro slightly rebounds anyway
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