Slowing U.S. Job Growth Sends Dollar Lower

Trading 10 jan 2020 Commentaire »

The U.S. dollar declined against its major counterparts in the European session on Friday, after a data showed that the nation's job growth slowed more than expected in December following a substantial acceleration in the previous month.

Data from the Labor Department showed that non-farm payroll employment climbed by 145,000 jobs in December after spiking by a revised 256,000 in November.

Economists had expected employment to increase by about 164,000 jobs compared to the jump of 266,000 jobs originally reported for the previous month.

The unemployment rate came in at 3.5 percent in December, unchanged from the previous month and in line with economist estimates.

At 10:00 am ET, the Commerce Department is scheduled to release its report on wholesale inventories in the month of November. Wholesale inventories are expected to inch up by 0.1 percent.

Federal Reserve Vice Chairman Richard Clarida said at an appearance before the Council on Foreign Relations in New York on Thursday that the U.S. economy is in a good place and the central bank isn't about to switch course.

Investors focused on positive developments on the trade front after US President Donald Trump indicated that a signing ceremony is scheduled for next week.

Meanwhile, the US House of Representatives passed a resolution to prevent Trump from further military action against Iran.

The greenback showed mixed performance in the previous session, by rising against the yen but holding steady against the franc and the euro. Versus the pound, it trended lower.

After rising to a 2-week high of 0.9762 at 6:15 am ET, the greenback pulled back against the franc, with the pair trading at 0.9744. At Thursday's close, the pair was valued at 0.9731. The greenback is seen finding support around the 0.96 mark.

Data from the State Secretariat for Economic Affairs showed that Switzerland's unemployment rate remained stable in December.

The jobless rate held steady at a seasonally adjusted 2.3 percent in December, in line with expectations.

Following an advance to a fresh 3-week high of 109.69 immediately before the data, the greenback fell to 109.51 against the Japanese yen. Next key support for the greenback is likely seen around the 107.00 level.

Data from the Cabinet Office showed that Japan's leading index fell to the lowest level in ten years in November.

The leading index, which measures the future economic activity, fell to 90.9 in November from 91.6 in October. This was in line with economists' expectations.

The greenback dropped to 1.1114 against the euro, from a new 2-week high of 1.1085 seen at 6:00 am ET. The pair had closed Thursday's trading at 1.1106. Continuation of the greenback's downtrend may lead it to a support around the 1.13 region.

The greenback neared the key 1.31 level against the pound, falling to 1.3097. The pound-greenback pair had ended yesterday's trading session at 1.3067. The greenback is poised to challenge support around the 1.32 mark.

UK hiring conditions improved at the end of the year with an increase in permanent job placement, according to a report on jobs from IHS Markit.

According to Recruitment & Employment Confederation/KPMG report, permanent staff appointments increased for the first time in a year driven by higher business activity.

The USD/CAD pair dropped to 1.3029 after the data, compared to yesterday's closing value of 1.3056. The greenback is likely to face support around the 1.29 region, if it falls again.

Extending early fall, the greenback slipped to a 3-day low of 0.6892 against the aussie. The aussie-greenback pair was worth 0.6858 at Thursday's close. Should the greenback falls further, it is likely to test support around the 0.71 region.

The greenback moved down to 0.6632 against the kiwi from Thursday's closing value of 0.6615. The greenback is poised to challenge support around the 0.68 mark.

The U.S. wholesale inventories for November are due out at 10:00 am ET.


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*U.S. Wholesale Inventories Dip 0.1% In November

Trading 10 jan 2020 Commentaire »

U.S. Wholesale Inventories Dip 0.1% In November


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Slovenia Industrial Production Grows In November

Trading 10 jan 2020 Commentaire »

Slovenia's industrial production grew in November, led by gains in manufacturing and mining and quarrying, figures from the statistical office showed on Friday.

The industrial production index rose 1.2 percent year-on-year with manufacturing output growing 1.9 percent. Production in the mining and quarrying sector increased 8.3 percent. Utility sector output decreased 7.2 percent.

Capital goods production rose 6.3 percent and consumer goods output grew 2.3 percent. Intermediate goods production decreased 2.2 percent.

On a month-on-month basis, industrial production decreased 1.1 percent in November.


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U.S. Job Growth Falls Short Of Estimates In December

Trading 10 jan 2020 Commentaire »

After reporting a substantial increase in U.S. employment in the previous month, the Labor Department released a report on Friday showing the pace of job growth slowed by more than expected in the month of December.

The report said non-farm payroll employment climbed by 145,000 jobs in December after spiking by a revised 256,000 in November.

Economists had expected employment to increase by about 164,000 jobs compared to the jump of 266,000 jobs originally reported for the previous month.

The Labor Department said notable job gains occurred in the retail trade and healthcare sectors, while mining lost jobs.

Meanwhile, the report said the unemployment rate came in at 3.5 percent in December, unchanged from the previous month and in line with economist estimates.

Average hourly employee earnings edged up by just 0.1 percent in December, with the annual growth rate dropping back to 2.9 percent from 3.1 percent

"The potentially worse news is that we know there will be big downward revisions to past months' payroll gains as part of the benchmark revisions, due to be released in the January Employment Report," said Michael Pearce, Senior U.S. Economist at Capital Economics,

He added, "But with much of the recent survey evidence suggesting that the underlying pace of hiring is bouncing back, and jobless claims low, the improvement in the pace of payroll gains over the past six months or so is unlikely to be revised away entirely."


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U.S. Employment Climbs Less Than Expected In December

Trading 10 jan 2020 Commentaire »

After reporting a substantial increase in U.S. employment in the previous month, the Labor Department released a report on Friday showing the pace of job growth slowed by more than expected in the month of December.

The Labor Department said non-farm payroll employment climbed by 145,000 jobs in December after spiking by a revised 256,000 in November.

Economists had expected employment to increase by about 164,000 jobs compared to the jump of 266,000 jobs originally reported for the previous month.

Meanwhile, the report said the unemployment rate came in at 3.5 percent in December, unchanged from the previous month and in line with economist estimates.


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*Canadian Dollar Rises To 1.4474 Vs Euro

Trading 10 jan 2020 Commentaire »

Canadian Dollar Rises To 1.4474 Vs Euro


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*Canadian Dollar Climbs To 1.3029 Vs U.S. Dollar After Canada Jobs Data

Trading 10 jan 2020 Commentaire »

Canadian Dollar Climbs To 1.3029 Vs U.S. Dollar After Canada Jobs Data


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*U.S. Dollar Slides To 1.3097 Against Pound

Trading 10 jan 2020 Commentaire »

U.S. Dollar Slides To 1.3097 Against Pound


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*U.S. Dollar Drops To 1.1114 Against Euro After Jobs Data

Trading 10 jan 2020 Commentaire »

U.S. Dollar Drops To 1.1114 Against Euro After Jobs Data


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Loonie Rises Following Canada Jobs Data

Trading 10 jan 2020 Commentaire »

At 8:30 am ET Friday, Statistics Canada has released Canada jobs data for December. The loonie climbed against its major counterparts after the data.

The loonie was trading at 84.03 against the yen, 1.4480 against the euro, 0.8978 against the aussie and 1.3043 against the greenback around 8:31 am ET.


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