US dollar higher vs euro on released labor market data

Posted 04 May, 2018

The US dollar is rising against the European currency, though loses grounds against the Japanese yen during the Friday trading driven by the US labor data.

According to the released figures, jobs in US economy rose just by 164,000 in April 2018, while the forecast was set at 193,000.

At the same time, the unemployment rate was at 3.9% over the period under review. This is the first time when the rate has fallen below 4% since 2000. For reference, the March level was 4.1%. The expectations were generally at 4%.

The slow increase in jobs can make US Federal Reserve give up on faster interest rate revision in the country, as the market experts believe.

The European currency felt pressure from the euro-area retail sales results in March. In particular, the currency block showed an increase of 0.1% m-o-m and 0.8% y-o-y over the period under review. Meanwhile, the analysts expected 0.5% and 1.9% respectively.

The euro to US dollar rate stands at some $1.1928 ($1.1988 d-o-d). The greenback to yen pair is some 109.18.

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