The excellent job figures released on Friday supported North American stock markets, which have been bullish since the beginning of the year. The unemployment rate now stands at 7.7%. The Fed recently announced that it would be keeping its key interest rate low until the country’s unemployment drops to below 6.5%, and inflation rises above 2.5%.
The solid economic news south of the border has translated into the American dollar gaining against the other main currencies: the yen, pound sterling and Canadian dollar are down 9.7%, 8.5% and 3.5%, respectively, since the beginning of the year.
This week, we are watching the March 14 and 15 European Union leaders’ meeting to discuss a bailout plan for Cyprus. China’s industrial production data are weighing on markets this morning. European markets are dropping and the loonie is stable against the greenback. Wishing you a great day.
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NBC Daily Forex: March 11, 2013
Published 03/11/2013, 09:09 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex: March 11, 2013
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