The United States announced on Friday (5th) that the non-farm payrolls in July were unexpectedly strong, and the labor market was in good condition, which means that the Federal Reserve (Fed) is still expected to continue raising interest rates in the short term. trend.
The ICE U.S. Dollar Index (DXY), which tracks the greenback against six major currencies, was up 0.84% at 106.58 in late New York trade. DXY gained 0.64% for the week.
The United States reported on Friday that non-farm payrolls added 528,000 jobs in July, much higher than market expectations and the largest increase since February.
The strong jobs data boosted the likelihood that the Fed will raise interest rates by another 3 yards in September. According to CME Group’s FedWatch tool, the federal funds rate futures market on Friday estimated a 68.5% chance of the Fed raising interest rates by 3 yards in September, up from 34% previously, and inflation data coming out next week will be the key. corner.
Axel Merk, president and chief investment officer of Merk Investment, said: “This is a stronger-than-expected report, and it also means that the Fed cannot adjust policy at this time and must continue to raise interest rates.” It has risen about 11%.
The Federal Reserve raised interest rates by 3 yards last week, and has raised rates by 9 yards (225 basis points) so far in March, but investors are still evaluating whether the Fed’s enthusiasm for future rate hikes may decline.
The euro was down 0.64% at $1.0181, again near par. The two exchange rates reached parity for the first time in the middle of last month.
GBP/USD was down 0.71% at $1.2070. The Bank of England raised interest rates by 2 yards on Thursday, the largest increase in 27 years, but also warned that a prolonged recession that began in the fourth quarter is coming.
USD/JPY rose 1.5% to 134.97 yen, with the yen down 1.3% for the week.
Among emerging market currencies, the Indian rupee weakened 0.25% to 79.35 rupees to the dollar, after breaking the 80 mark last month, hitting a record low. The South African rand weakened 1.1% to 16.78 per dollar against the dollar.
As of Saturday (6th) Taiwan time about 6:00 Price:
The dollar index was at 106.5860. +0.7810% EUR/USD (EUR/USD) was quoted at 1.0181 USD. -0.6344% GBP/USD (GBP/USD) was quoted at $1.2070. -0.7075% The Australian dollar against the US dollar (AUD/USD) was quoted at 1 Australian dollar to 0.6908. -0.8041% The US dollar against the Canadian dollar (USD/CAD) was quoted at 1.2930 Canadian dollars per US dollar. +0.5052% The US dollar against the Japanese yen (USD/JPY) was quoted at 134.97 yen. +1.4965%