U.S. Dollar Appreciates As Jobs Data In Focus
2021年10月5日 - 03:40PM
RTTF2
The U.S. dollar drifted higher against its most major
counterparts in the European session on Tuesday, as investors
awaited the release of U.S. jobs data for September that could
bolster hopes for a move towards tapering by November.
Friday's nonfarm payrolls data is likely to show a continued
improvement in the labor market, with economists forecasting a rise
of 488,000 jobs. The jobless rate is seen falling to 5.1 percent
from 5.2 percent.
Market participants hope that the Fed would begin to reduce its
asset purchases as soon as November following a hawkish statement
from the Fed after its meeting in September.
Hopes for an imminent tapering have lifted U.S. bond yields last
week, with the 10-year treasury yield surpassing 1.56 percent.
St. Louis Fed President James Bullard reiterated on Monday that
high inflation is unlikely to fall back to the Fed's 2 percent
goal, but businesses and consumers have adjusted their mentality
around inflation.
The greenback rose to 1.1590 against the euro, 0.9271 against
the franc and 111.26 against the yen, after falling to 1.1622,
0.9239 and 110.83, respectively in early deals. The greenback may
challenge resistance around 1.13 against the euro, 0.94 against the
franc and 113.5 against the yen.
In contrast, the greenback retreated from an Asian session's
high of 1.3584 against the pound, with the pair trading at 1.3627.
The greenback is seen locating support around the 1.38 level.
The greenback fell to 1.2586 against the loonie, 0.6971 against
the kiwi and 0.7294 against the aussie, off its prior highs of
1.2630 and 0.6928 and a 4-day high of 0.7249, respectively. The
greenback may test support around 1.22 against the loonie, 0.71
against the kiwi and 0.74 against the aussie.
Looking ahead, U.S. and Canadian trade data for August and ISM
non-manufacturing PMI for September will be out in the New York
session.
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