US dollar stays positive at week end

Posted 16 August, 2019

The US dollar stays generally positive vs the majors at the Friday session.

According to the market data, the euro decreased against the greenback to some $1.1083, while yesterday's rate was near $1.1107.

The US dollar gained grounds in the pair with the Japanese yen. The exchange rate reached 106.27 (106.12 earlier).

At the same time, the pound sterling slightly improved positions against the American currency. The pound-to-US dollar exchange rate was recorded at $1.2133. 

The July retail sales report released lately showed that this segment posted an increase of 0.7% m-o-m in July, while the experts anticipated a 0.3% rise.

Moreover, better results were recorded in the labour market. In particular, labour efficiency hiked by 2.3% in Q2 2019 and workforce cost rose by 2.4%. For example, the market analysts anticipated the figures to add 1.4% and 2% respectively.

Nevertheless, the sting came from the number of initial jobless claims amounted to 220,000 last week compared to the forecast level of 212,000. Still, the rate remains the lowest anyway, which indicate labour market rebound in the country, 

The US President Donald Trump has stated recently that the ongoing trade conflict would not last long. 

Trump noted that the meeting with Beijing representatives is still expected to take place in September. However, he also added that the parties frequently hold telephone talks.

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