The Friday report on employment in the US did not have a significant impact on the currency market, only confirming the presence of positive changes in the economy of the country. In February, 313,000 jobs were created, which was the biggest monthly increase in 3,5 years. Although the unemployment rate has risen, and wage growth has slowed, the main thing is that these figures are high enough for, the Federal Reserve to raise interest rates later this month. Activity in the service sector continues to grow at a healthy pace, and judging by the Beige Book, the economy to grow modestly or moderately from January to February, and the narrowing of the gap between supply and demand in the labor market to lead to higher wages and inflation.
This week, the focus will be on inflation and consumer spending for February. It is expected that the costs will roll back after the fall at the beginning of the year. As in the case of the employment report, if data on consumer prices or retail sales are not horrible, Fed Chairman Jerome Powell will raise interest rates this week for the first time after his promotion. USD/JPY rose at the end of last week and could reach 108 if US stocks continue to strengthen.
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