Dollar shakes as consumers wait for US service update – SABC News

The dollar trembled for the first week in a three-day period on Friday as consumers looked to the U.S. labor data later in the day for speculation that the Federal Reserve may raise interest rates. .

Markets closed on 50-base-point Fed hikes in June and July but the dollar moved around this week due to uncertainty about what will happen next.

The dollar rose from the beginning of the week and the nerves that record highs in Europe are the reason for the high prices everywhere.

But it fell overnight and stocks gathered as U.S. economic data mixed to erode that notion.

The dollar lost about 0.9% against the euro on Thursday, falling to $ 1.0750.

It fell further to $ 1.0760 at the Asian summit of a holiday in China and Hong Kong.

Holidays in Britain could also reduce London’s trade.

In firefighting operations, the dollar lost about 0.5% on the coast to hit 6.6170.

“Equity markets are booming,” said Chris Weston, chief analyst at brokerage Pepperstone in Melbourne.

“I think the equity market is horse and dollar and this is a car.”

The S&P 500 index rose 1.8% on Thursday.

The Australian Dollar and New Zealand Dollar each had a risk of rising above 1% overnight, examining gains and stocks.

With broken returns of $ 0.72, the Aussie extended 0.1% higher to its six-week high of $ 0.7280 on Friday.

The dollar was 0.1% lower at 101.660 in the first trade on Friday and flat for the week – stopping the decline, followed by two weekly losses following more than 1%.

Low interest rates in Japan have protected the yen under pressure as well as their chances of joining the rest of the high world.

Japan’s currency stabilized at 129.80 per dollar on Friday and dropped 2% to the dollar this week.

Night data showed a slower pace than expected in employment in the United States as well as a surprising decrease in the number of applications for unemployment benefits.

U.S. non-farm data because later on Friday and although markets at the central bank are currently focused on inflation, labor markets will be driven by expected earnings and impacts of broader potential. economy.

“For equities right now, anything that could look like capping the Fed’s tightening could look like support,” said ING economist Rob Carnell, adding that Treasuries and stock prices will be likely that they suggest from stocks.

Sterling gained overnight gains at $ 1.2580.

In crypto currencies, Bitcoin lost about $ 30,000.

Dollar shakes as consumers wait for US service update – SABC News

Source link Dollar shakes as consumers wait for US service update – SABC News

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