After tumbling against its major counterparts on Friday amid dismal U.S. jobs data, the dollar recovered slightly in early Asian trading on Monday.
The U.S. Labor Department report showed on Friday that non-farm payroll employment increased just 39,000 in November, well below forecasts for a 130,000 increase. The unemployment rate jumped to 9.8% from 9.6% in October.
Amid the report, the dollar plunged to an 8-day low against the pound, 10-day low against the euro and the NZ dollar, 11-day low against the Aussie, 18-day low against the yen and a 3-week low against the franc.
The Federal Reserve could expand its new $600 billion quantitative easing program if the economy fails to revive as anticipated, its Chairman Ben Bernanke has said.
In a televised interview aired on Sunday, Bernanke told the CBS network the Fed’s policy easing was aimed at averting the US economy falling into a deflationary spiral and bring down high unemployment, shrugging off criticism the policy could lead to future inflationary pressures.
The dollar strengthened against the yen in early Asian deals on Monday. As of now, the dollar-yen pair is worth 82.92, up from Friday’s close of 82.60. If the dollar gains further, it may likely target the 83.5 level.
During early Asian deals on Monday, the dollar rose against the currencies of Europe, U.K. and Switzerland. At present, the dollar is worth 0.9772 against the franc, 1.3352 against the euro and 1.5743 against the pound, compared to Friday’s close of 0.9735, 1.3423 and 1.5784, respectively. The next upside target level for the dollar is seen at 0.990 against the franc, 1.325 against the euro and 1.565 against the pound.
The U.S. dollar gained against the Australian dollar during early Asian session on Monday. The greenback is currently worth 0.9869 against the aussie with 0.982 seen as the next upside target level. The pair closed Friday’s trading at 0.9936.
In early Asian session on Monday, the U.S. dollar climbed against the Canadian dollar. The greenback-loonie pair that closed last week’s trading at 1.0035 is presently worth 1.0060. If the greenback strengthens further, it may likely target the 1.008 level.
Against the New Zealand dollar, the U.S. dollar soared in early Asian deals on Monday. Currently, the greenback is worth 0.7625 against the kiwi, compared to Friday’s close of 0.7673. The next upside target level for the greenback is seen at 0.756.
Looking ahead, Switzerland’s foreign currency reserves data for November and the Eurozone Sentix investor confidence index for December are expected in the upcoming European session.
Canada’s building permits for October and Ivey PMI for November are slated for release at 8:30 am and 10:00 am ET, respectively.
I have been exploring for a little bit for any high quality articles or blog posts on this type of area . Exploring in Google I eventually discovered this site. Reading through this information made me completely happy that I’ve discovered exactly what I needed.
Excellent post, I think some other site owners should learn a lot from this web site its extremely user-friendly and contains excellent articles.
I don’t think I’ve scanned anything like this before. So good to find someone with some original thoughts on this subject matter. great one for starting this up. This site is something that’s needed on the web, somebody witha little originality. Good job for bringing something new online!
Terrific posts from you, fella. I’ve figured out your idea and you’re simply really great. I enjoy what you’ve got here, actually like what you’re saying and the way by which you say it. You make it engaging. I cant wait to read much more from you. This is really an excellent website.
Today, I went to the beachfront with my kids. I
found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She
placed the shell to her ear and screamed. There was a hermit crab inside and it
pinched her ear. She never wants to go back! LoL I know this is totally off topic but I had to tell someone!
It’s remarkable in support of me to have a web page, which is useful for my knowledge. thanks admin
I used to be suggested this web site by way of my cousin. I am now not certain whether or not this put up is written by means of him as no one else realize such distinct about my trouble. You’re amazing! Thank you!
Hi there! Would you mind if I share your blog with my zynga group? There’s a lot of people that I think would really appreciate your content. Please let me know. Thank you
Great article.
Vida Healthcare, based in Harrogate, North Yorkshire, was named winner of winners at the annual Skills for Care Accolades.