FOREX TradingCharts.com

Forex News: Dollar Weakens As U.S. Jobless Rate Ticks Higher

Dollar Weakens As U.S. Jobless Rate Ticks Higher

07/06/2018 - 09:36:00 (RTTNews)

(RTTNews) - The U.S. dollar drifted lower against its major counterparts in the European session on Friday, after the release of mixed U.S. jobs data, which showed that the economy created more jobs than forecast in June, but the jobless edged up.

Data from the Labor Department showed that the U.S. employment grew more than expected in June.

The report said non-farm payroll employment jumped by 213,000 jobs in June after surging up by an upwardly revised 244,000 jobs in May.

Economists had expected employment to climb by 195,000 jobs compared to the addition of 223,000 jobs originally reported for the previous month.

Despite the stronger than expected job growth, the unemployment rate rose to 4.0 percent in June from 3.8 percent in May. The unemployment rate was expected to be unchanged.

Investors monitored trade tensions between the U.S. and China, as American tariffs on 34 billion dollars worth of Chinese imports took effect and China vowed to make a necessary counterattack in equal measure.

The currency traded mixed against its major rivals in the Asian session. While it fell against the pound and the euro, it held steady against the franc. Against the yen, it rose.

The greenback dropped to a 2-week low of 0.7444 against the aussie and a 9-day low of 0.6842 against the kiwi, reversing from its early highs of 0.7376 and 0.6782, respectively. If the greenback continues its fall, 0.76 and 0.70 are possibly seen as its next support levels against the aussie and the kiwi, respectively.

The greenback slipped to 110.43 against the yen, from a 3-day high of 110.79 hit at 1:30 am ET. Next key support for the greenback is likely seen around the 109.00 level.

Preliminary figures from the Cabinet Office showed that Japan's leading index increased more than expected in May to the highest level in six months.

The leading index, which measures the future economic activity, climbed to 106.9 in May from 106.2 in April. The index was forecast to rise to 106.6.

Reversing from an early session's high of 1.3204 against the pound, the greenback weakened to 1.3269. The greenback is seen challenging support around the 1.34 mark.

Data from the Lloyds bank subsidiary Halifax and IHS Markit showed that UK house prices increased at a slower pace in June.

House prices grew only 0.3 percent on month in June, following May's 1.7 percent increase. Prices were expected to gain 0.2 percent.

The greenback fell to a 9-day low of 0.9892 against the franc, off early session's high of 0.9944. On the downside, 0.97 is possibly seen as the next support level for the greenback.

The U.S. currency declined to a new 3-week low of 1.1763 against the euro, after having advanced to 1.1680 at 10:00 pm ET. The greenback is poised to test support around the 1.19 level.

Data from Destatis showed that Germany's industrial production recovered at a faster than expected pace in May.

Industrial output grew 2.6 percent month-on-month in May, reversing a revised 1.3 percent drop in April. Output was forecast to grow marginally by 0.3 percent.

The greenback that fell to a new 3-week low of 1.3086 against the loonie following the data, trimmed its losses immediately. At Thursday's close, the pair was worth 1.3131.

Looking ahead, Canada Ivey PMI for June is due shortly.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Falling On Trump And Bullard Comments (50 min(s), 37 sec(s) ago)
(RTTNews) - The dollar is losing ground against its major rivals Friday afternoon. On a quiet day ...Full Story»

U.S. Dollar Extends Decline After Fed Bullard Suggests To Put Off Hikes (32 min(s), 37 sec(s) ago)
(RTTNews) - The U.S. dollar extended its early slide against its major counterparts in the New Yor ...Full Story»

Canadian Dollar Climbs After Strong Inflation, Retail Sales Data (20 min(s), 37 sec(s) ago)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in early New York deal ...Full Story»

Loonie Advances After Canada Retail Sales, Consumer Inflation (02 min(s), 37 sec(s) ago)
(RTTNews) - Canada retail sales for May and consumer inflation for June have been released from St ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales, Consumer Inflation (59 min(s), 37 sec(s) ago)
(RTTNews) - Canada retail sales for May and consumer inflation for June are due from Statistics Ca ...Full Story»

Canadian Dollar Advances Against Most Majors (47 min(s), 37 sec(s) ago)
(RTTNews) - The Canadian dollar climbed against its most major counterparts in the European sessio ...Full Story»

Pound Little Changed After U.K. Public Sector Finance Data (08 min(s), 37 sec(s) ago)
(RTTNews) - Following the release of U.K. public sector finance data for June at 4:30 am ET Friday ...Full Story»

U.S. Dollar Falls On Trump's Comments (32 min(s), 37 sec(s) ago)
(RTTNews) - The U.S. dollar slipped against its major counterparts in the Asian session on Friday, ...Full Story»

Search

FOREX NEWS

Dollar Falling On Trump And Bullard Comments

07/20/2018 - 14:18 PM (RTTNews)
(RTTNews) - The dollar is losing ground against its major rivals Friday afternoon. On a quiet day ...Full Story>>

U.S. Dollar Extends Decline After Fed Bullard Suggests To Put Off Hikes

07/20/2018 - 11:00 AM (RTTNews)
(RTTNews) - The U.S. dollar extended its early slide against its major counterparts in the New Yor ...Full Story>>

Canadian Dollar Climbs After Strong Inflation, Retail Sales Data

07/20/2018 - 09:50 AM (RTTNews)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in early New York deal ...Full Story>>

Loonie Advances After Canada Retail Sales, Consumer Inflation

07/20/2018 - 08:32 AM (RTTNews)
(RTTNews) - Canada retail sales for May and consumer inflation for June have been released from St ...Full Story>>

Loonie Mixed Ahead Of Canada Retail Sales, Consumer Inflation

07/20/2018 - 08:27 AM (RTTNews)
(RTTNews) - Canada retail sales for May and consumer inflation for June are due from Statistics Ca ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.