FOREX TradingCharts.com

Forex News: Dollar Strengthens Ahead Of U.S. Jobs Data

Dollar Strengthens Ahead Of U.S. Jobs Data

07/05/2019 - 03:25:00 (RTTNews)

(RTTNews) - The U.S. dollar climbed against its major counterparts in the Asian session on Friday, as investors awaited today's jobs report that would help determine about the Fed rate cut later this month.

U.S. employment is expected to increase by 160,000 jobs in June after an increase of 75,000 jobs in May. The jobless rate is expected to hold at 3.6 percent.

The report could determine if the Federal Reserve cuts rates later this month to shore up the world's largest economy as trade tensions escalate.

The ADP employment data, seen as a precursor to jobs data, missed expectations, fueling expectations that the Fed will start cutting rates soon.

On the trade front, White House economic adviser Larry Kudlow told reporters Thursday that top-level trade officials 'will be very involved now' in restarting discussions with their Chinese counterparts next week.

The greenback climbed to a 3-day high of 107.96 against the yen, from a low of 107.76 hit at 5:00 pm ET. The next possible resistance for the greenback is seen around the 111.00 mark.

The greenback appreciated to 0.9864 against the franc, after falling to a 2-day low of 0.9843 at 5:45 pm ET. Continuation of the greenback's uptrend may see it challenging resistance around the 1.00 region.

Reversing from a low of 1.1288 set at 6:45 pm ET, the greenback reversed direction and rose to a 2-day high of 1.1272. If the greenback extends rise, 1.11 is possibly seen as its next resistance level.

The greenback strengthened to 2-day highs of 0.6672 against the kiwi and 0.7014 against the aussie, from Thursday's closing values of 0.6687 and 0.7029, respectively. The greenback is likely to face resistance around 0.64 against the kiwi and 0.69 against the aussie.

The greenback that ended yesterday's deals at 1.3046 against the loonie edged higher to 1.3067. On the upside, 1.33 is possibly seen as the next resistance for the greenback.

On the flip side, the greenback dropped to 1.2588 against the pound, from a high of 1.2571 seen at 5:00 pm ET. Next key support for the greenback is seen around the 1.27 area.

Looking ahead, U.K. Halifax house price index for June will be out in the European session.

The U.S and Canadian jobs data and Canada Ivey PMI, all for June, are due in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Pound Weakens As Johnson Likely To Win Tory Leadership Contest (41 min(s), 31 sec(s) ago)
(RTTNews) - The pound drifted lower against its major counterparts in the European session on Mond ...Full Story»

Australian Dollar Slides On Risk Aversion (04 hr(s), 11 min(s), 30 sec(s) ago)
(RTTNews) - The Australian dollar weakened against its major counterparts in the Asian session on ...Full Story»

Dollar Drops After U.S. Consumer Sentiment Index (39 min(s), 29 sec(s) ago)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for July has bee ...Full Story»

Dollar Mixed Ahead Of U.S. Consumer Sentiment Index (33 min(s), 29 sec(s) ago)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for July is sche ...Full Story»

Canadian Dollar Drops On Dismal Retail Sales (18 min(s), 29 sec(s) ago)
(RTTNews) - The Canadian dollar slipped against its major counterparts in the European session on ...Full Story»

Loonie Falls After Canada Retail Sales (09 min(s), 29 sec(s) ago)
(RTTNews) - Following the release of Canada retail sales for May at 8:30 am ET Friday, the loonie ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales (03 min(s), 29 sec(s) ago)
(RTTNews) - Canada retail sales for May are due from Statistics Canada at 8:30 am ET Friday. Ahead ...Full Story»

Pound Little Changed After UK Public Sector Finance Data (02 hr(s), 50 min(s), 31 sec(s) ago)
(RTTNews) - Following the release of UK public sector finance data for June at 4.30 am ET Friday, ...Full Story»

Search

FOREX NEWS

Pound Weakens As Johnson Likely To Win Tory Leadership Contest

07/22/2019 - 06:44 AM (RTTNews)
(RTTNews) - The pound drifted lower against its major counterparts in the European session on Mond ...Full Story>>

Australian Dollar Slides On Risk Aversion

07/22/2019 - 03:14 AM (RTTNews)
(RTTNews) - The Australian dollar weakened against its major counterparts in the Asian session on ...Full Story>>

Dollar Drops After U.S. Consumer Sentiment Index

07/19/2019 - 10:04 AM (RTTNews)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for July has bee ...Full Story>>

Dollar Mixed Ahead Of U.S. Consumer Sentiment Index

07/19/2019 - 09:57 AM (RTTNews)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for July is sche ...Full Story>>

Canadian Dollar Drops On Dismal Retail Sales

07/19/2019 - 09:44 AM (RTTNews)
(RTTNews) - The Canadian dollar slipped against its major counterparts in the European session on ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.