Saturday 4 February 2017

The dollar lost positions

The dollar has reduced its growth against other major currencies on Friday after the publication of mixed data on US employment.
According to the report of the US Department of Labor the number of employees outside the agricultural sector in January increased by 227 thousand compared with the forecast of 175 thousand. In December, the revised number of people employed outside the agricultural sector amounted to 157 thousand (initial value - 156 thousand).
However, the same report showed that the US unemployment rate in January rose to 4.8% after the value of 4.7% in December. Analysts did not expected an increase in the unemployment rate in January.
The average hourly wage in the United States increased by 0.1% instead of the expected increase of 0.3%.
In recent weeks, the dollar remained under pressure against the background of the protectionist policy of US President Donald Trump and the ban on the entry of immigrants, which led to the general instability in global markets.
EUR/USD has remained stable closing the week at 1.0783, rebounding from a session low 1.0714.
GBP/USD ended lower by 0.30% to 1.2478.


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