Nonfarm payroll figures increased by 215k in March and the unemployment rate rose to 5.0% from an eight-year low of 4.9%, the US Labour Department said. Average hourly earnings edged up by 0.3% from March as well.
The USD index traded on weekly losses around 94.58 levels as it failed to maintain gains.
Euro was strongly affected by strong US data and traded at $1.440, the highest level since the beginning of this year. The pair could decline slightly during today’s trading session.
GBP pared its losses against USD to settle at $1.42, rebounding from $1.4450, negatively affected by the “Brexit” campaign. The pound is awaiting CIPS UK Construction PMI and could decline to $1.4150.
USD/JPY failed to settle above 112 levels, despite good US data. The pair declined to 111.57 at the end of last week’s trading session, due to renewed concerns about the rise in unemployment rates.
Gold showed little gain at the end of last week’s trading session to record $1,208. The yellow metal could re-test $1,200 during the course of this week, because of rising wage levels in the US, which indicates inflation increases in the United States.
Oil prices sharply declined, negatively affected by the statements of deputy crown prince Mohammed bin Salman as he said, “Saudi Arabia will not freeze its production unless Iran and others agree to join in.” WTI crude oil prices sank more than 4% to trade at $36, and its losses could extend during this week, as Russia would not cut its production as previously agreed.
The most important economic events:
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