Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Forex - Dollar Inches Up Ahead of U.S. Job Data

Forex Oct 05, 2018 01:35AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
The dollar inched up on Friday

Investing.com - The dollar inched up on Friday and remained near one-and-a-half-month highs ahead of the much anticipated U.S. job data due later in the day.

The gain in dollar followed a spike in Treasury yields on better-than-expected U.S. data and indications from the Federal Reserve that interest rates will continue to rise.

The U.S. dollar index, which tracks the greenback against a basket of other currencies, was at 95.50 by 01:30AM ET (05:30 GMT) after hitting an overnight high of 95.78, the most since August 20.

The yield on the benchmark United States 10-Year Treasury rose to levels not seen since 2011 after upbeat economic data and hawkish comments from Fed Chairman Jerome Powell bolstered expectations of an interest rate increase in December.

The yield was up 1.36% to 3.204% on Thursday after jumping almost 4% in the previous session.

Fed Chairman Jerome Powell said Wednesday that the U.S. central bank may raise interest rates above an estimated "neutral" setting as the U.S. economy continues to grow.

“Interest rates are still accommodative, but we’re gradually moving to a place where they’ll be neutral,” neither holding back nor spurring economic growth, Powell said.

“We may go past neutral. But we’re a long way from neutral at this point, probably,” he added.

Look ahead, the September employment report is expected to take center stage later in the day in the U.S.

A strong payrolls report, especially if wage growth appears to be in check, could further boosts treasuriy yields and impact equities, according to analysts.

The Labor Department will release the numbers at 08:30AM ET (12:30 GMT).

On average, economists expect that nonfarm payrolls rose by 185,000 last month, down from a rise of 201,000 in August. The jobless rate is expected to tick down to 3.8%.

Average hourly earnings are forecast to have risen 0.3% in September, a 2.8% gain year on year.

Forex - Dollar Inches Up Ahead of U.S. Job Data
 

Related Articles

Sudden crypto drop sends bitcoin to three-week low
Sudden crypto drop sends bitcoin to three-week low By Reuters - Aug 19, 2022 8

By Tom Westbrook and Hannah Lang SINGAPORE/WASHINGTON (Reuters) -Cryptocurrencies fell sharply on Friday, with sudden selling dragging bitcoin to a three-week low, with analysts...

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