Dollar Mixed Ahead of U.S. Fed Appearances
The US dollar was mixed against its major trading partners early Friday. The greenback surge versus the yen and Canadian dollar. However, US dollar was down against the euro and pound—before a busy data of economic data releases and appearances by Federal Reserve officials.
Non-farm payrolls are expected to rise by 220,000 after a hurricane-impacted 12,000 jobs gain in October. The unemployment rate is expected to remain at 4.1%, and hourly earnings are forecast to rise by 0.3% after a 0.4% gain.
A quick summary of foreign exchange activity heading into Friday showed that USDEUR rose to 1.0587 from 1.0585 at the Thursday US close and 1.0533 at the same time Thursday morning.
Eurozone employment and GDP both rose as expected in Q3, according to data released earlier Friday. The next European Central Bank meeting is scheduled for Dec. 12.
GBPUSD rose to 1.2770 from 1.2751 at the Thursday US close and 1.2733 at the same time Thursday morning. UK home prices rose more than expected in November, data released overnight showed.
The next Bank of England meeting is scheduled for Dec. 19. USDJPY rose to 150.6185 from 150.0676 at the Thursday US close and 150.1926 at the same time Thursday morning.
Japanese household spending rose more than expected in October from the previous month while wage growth accelerated and the leading index declined in the same month, according to data released overnight.
The next Bank of Japan meeting is scheduled for Dec. 18-19. USDCAD rose to 1.4047 from 1.4029 at the Thursday US close but was below a level of 1.4058 at the same time Thursday morning.
Canadian employment data for November are due to be release Friday, followed by the Canada IVEY purchasing managers’ index survey for November. The next Bank of Canada meeting is scheduled for Dec. 11. Equities Investors Wealth Rises as Nigerian Exchange Rally
