Investors awaited data on unemployment in the U.S., which the Ministry of labour of the country must publish at 15.30 GMT. According to forecasts, the indicator remained at the level of August at 5.1%.
MOSCOW, 2 Oct. The dollar strengthened against major world currencies amid expectations of investors of statistics on the labor market of the United States, according to AFP.
As of 8.17 GMT the dollar index (the dollar against a basket of currencies of six major U.S. trading partners) rose by 0.12% to 96,21 points. The Euro-dollar exchange rate fell to 1,1178 1,1197 of the dollar from the dollar to the Euro. The dollar against the yen rose to 119,97 yen per dollar from 119,924 yen per dollar at the previous closing.
The Department of labor at 15.30 GMT on Friday will publish data on unemployment in the country. According to experts, the indicator in September remained at the August level at 5.1%. The Ministry of labour the country will also publish the data on newly created jobs in non-agricultural sectors of the economy. Analysts are predicting an increase of 200 thousand after thousand 173 in August.
Trading on the foreign exchange market due to expectations of statistics on the U.S. labor market do not show sharp fluctuations. “I expect calm trading currency before the publication of employment data”, — quotes the edition of The Wall Street Journal quoted the source as saying, who works as a dealer at a Japanese Bank. The expert suggested that a possible revision of the August data in the direction of improvement will be beneficial for the investor perception of the labour market of the country.
“Under normal circumstances, the fed should tighten monetary policy, given signs that the U.S. close to full employment”, — quotes the edition of the chief strategist at foreign exchange Citibank in Tokyo to Takasima Osamu (Osamu Takashima). However, the economic slowdown in the country, as well as volatility in the stock markets and in economies outside of the US will complicate the situation for the fed, he said. “While a negative evaluation (statistics in published — ed.) can lead to relatively overt reaction to sell the dollar, positive data does not necessarily lead to the strengthening of the American currency”, — concluded the expert.