Breaking News
Investing Pro 0
Cyber Monday Extended SALE: Up to 60% OFF InvestingPro+ CLAIM OFFER

Dollar jumps up on robust U.S. jobs report

Forex Dec 05, 2014 03:56PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Dollar firms as U.S economy adds far more jobs in November than expected
 
EUR/USD
+0.17%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
GBP/USD
+0.31%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
USD/JPY
-0.71%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
USD/CHF
0.00%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AUD/USD
-0.21%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
USD/CAD
+0.31%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Investing.com - The dollar firmed against most major currencies on Friday after official data revealed the U.S. economy added way more payrolls in November than investors were expecting.

In U.S. trading on Friday, EUR/USD was up 0.72% at 1.2289.

The Labor Department reported earlier that the U.S. economy added 321,000 jobs in November, well past expectations for a 225,000 reading. October's figure was revised up to 243,000 from a previously estimated 214,000, pointing to underlying strength in the labor market.

The U.S. unemployment rate remained unchanged at 5.8% last month, in line with expectations, and the numbers fueled expectations that the Federal Reserve will raise interest rates in 2015, possibly earlier than once anticipated.

A separate report showed that the U.S. trade deficit hit $43.40 billion in October, down from $43.60 billion in September, whose figure was revised from a previously estimated deficit of $43.00 billion. Analysts had expected the trade deficit to narrow to $41.20 billion in October.

Data also showed that U.S. factory orders fell 0.7% in October compared to expectations for a 0.2% slip. Factory orders in September were revised to a 0.5% decline from a previously estimated 0.6% fall.

In the euro zone, official data earlier showed that German factory orders rose 2.5% in October, exceeding expectations for a 0.6% gain. Factory orders in September were revised to an increase of 1.1% from a previously estimated 0.8% rise.

The single currency had strengthened broadly on Thursday after European Central Bank President Mario Draghi indicated that the bank would not embark on quantitative easing for now, saying the bank would reassess its stimulus program in the first quarter of 2015.

The dollar was up against the yen, with USD/JPY up 1.37% at 121.43, and down against the Swiss franc, with USD/CHF up 0.71% at 0.9783.

The yen remained under pressure after Japanese media outlets reported on Thursday that Prime Minister Shinzo Abe's coalition government could retain its majority in the lower house of parliament in elections due to be held on December 14.

The greenback was up against the pound, with GBP/USD down 0.62% at 1.5576.

The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.43% at 1.1434, AUD/USD down 0.67% at 0.8328 and NZD/USD down 0.89% at 0.7712.

The US dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.79% at 89.36.

Dollar jumps up on robust U.S. jobs report
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email