Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - U.S. Dollar Falls After Jobs Report

Published 10/05/2018, 09:06 AM
Updated 10/05/2018, 09:06 AM
© Reuters.  The dollar was lower on Friday.

© Reuters. The dollar was lower on Friday.

Investing.com - The U.S. dollar fell on Friday after the September jobs report came in lower than expected and 10-year Treasury yields rose to a seven-year high.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.15% to 95.329 as of 9:05 AM ET (13:05 GMT).

The U.S. economy created less jobs than expected in September, but unemployment reached a 48-year low, indicating the economy could be plateauing.

Nonfarm payrolls rose by 134,000 compared to expectations for a 185,000 gain.

Payroll gains for August were revised to 270,000 from the 201,000 initially reported, while July was revised up to 165,000 from 147,000. The unemployment rate fell to 3.7%, a level not seen since 1969. Average hourly earnings, an important number to gauge inflation, rose 2.8% year over year in September.

Meanwhile expectations for a Federal Reserve rate increase in December rose slightly to 77.7%.

After the data release, the yield on the benchmark United States 10-Year Treasury note jumped to 3.227%, a level not seen since 2011.

Elsewhere the euro was slightly higher, while sterling surged amid reports that the European Union and the UK are in the final Brexit negotiation stages.

EUR/USD increased 0.10% to 1.1525 and GBP/USD rose 0.45% to 1.3078.

The dollar slid lower against the yen, with USD/JPY down 0.07% to 113.80.

The Australian dollar was higher, with AUD/USD up 0.06% to 0.7078, while NZD/USD fell 0.09% to 0.6474.

The loonie inched up after the employment rate came in much higher than expected. USD/CAD dipped 0.02% to 1.2925.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.