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Dollar remains mixed vs. rivals after U.S. data disappoints

Published 04/04/2014, 08:44 AM
Updated 04/04/2014, 08:44 AM
Dollar still mixed vs. counterparts after U.S. data

Investing.com - The dollar remained mixed against the other major currencies on Friday, after the release of disappointing U.S. employment data fuelled fresh expectations over the strength of the country's economic recovery.

The dollar edged higher against the euro, with EUR/USD down 0.08% to 1.3709.

In a report, the Department of Labor said the U.S. economy added 192,000 jobs in March, confounding expectations for a 200,000 increase. February's figure was revised up to a 197,000 rise from a previously estimated 175,000 increase.

The private sector added 192,000 jobs last month, below expectations for a 195,000 rise, while February's figure was revised up to 188,000 jobs added from a previously estimated 162,000 increase.

The report also showed that the U.S. unemployment rate remained unchanged at 6.7% last month, disappointing expectations for a downtick to 6.6%.

In the euro zone, official data earlier showed that German factory orders rose rose 0.6% in February, exceeding expectations for a 0.1% gain. Factory orders in January were revised down to a 0.1% increase from a previously estimated 1.2% rise.

But the single currency remained under pressure after European Central Bank President Mario Draghi played down the risk of deflation in the euro zone on Thursday, but added that the bank has not ruled out further policy action, including quantitative easing.

The comments came after the central bank left rates on hold at a record low 0.25%.

The pound was lower against the dollar, with GBP/USD edging down 0.11% to 1.6578.

Earlier Friday, official data showed that the U.K. house price index declined by 1.1% in March, confounding expectations for a 0.7% rise, after a 2.4% increase the previous month.

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The dollar was little changed against the yen, with USD/JPY easing 0.03% to 103.89 and higher against the Swiss franc, with USD/CHFadding 0.21% to 0.8931.

The greenback was lower against the Australian, New Zealand and Canadian dollars, with AUD/USD gaining 0.41% to 0.9272, NZD/USD rising 0.35% to 0.8575 and USD/CAD retreating 0.65% to 1.0967

In Canada, official data showed that the economy added 42,900 jobs last month, exceeding expectations for a 21,500 rise, after a 7,000 decline in February.

Canada's unemployment rate declined to 6.9% in March, from 7% in February. Analysts had expected the unemployment rate to remain unchanged last month.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.01% to 80.60.

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