Dollar Remains Subdued After Jobs Data

RTTNews | 1069 days ago
Dollar Remains Subdued After Jobs Data

(RTTNews) - The U.S. dollar swung between gains and losses on Friday after data showed a bigger than expected increase in U.S. non-farm payrolls in the month of June.

Data released by the Labor Department today showed non-farm payroll employment jumped by 372,000 jobs in June after surging by a revised 384,000 jobs in May.

Economists had expected employment to increase by 268,000 jobs compared to the addition of 390,000 jobs originally reported for the previous month.

Meanwhile, the report showed the unemployment remained at 3.6% for the fourth month in a row, matching economist estimates.

The data has eased worries about the economy while also adding to concerns about aggressive interest rate hikes by the Federal Reserve.

Federal Reserve governors Christopher Waller and St. Louis Fed President James Bullard on Thursday backed another big interest-rate rise in July but said they think recession fears are overblown.

The dollar index, which climbed to 107.79 in the Asian session, dropped to 106.98 around late morning. The index was last seen hovering around 106.95, down 0.17% from the previous close.

Against the Euro, the dollar has weakened to $1.0182, after having firmed to $1.0076 during the Asian session.

The dollar is trading at $1.2028 against Pound Sterling, little changed from the previous close.

Against the Japanese currency, the dollar is stronger, fetching 136.11 yen a unit.

The dollar has weakened to 0.6851 against the Aussie. The Swiss franc is weak at 0.9769 a dollar.

Against the Loonie, the dollar weak at C$1.2952 on higher crude oil prices and strong jobs data.

read more
European Economic News Preview: UK GDP, Foreign Trade Data Due

European Economic News Preview: UK GDP, Foreign Trade Data Due

Monthly GDP, industrial production and foreign trade from the UK are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade figures. The economy is forecast to shrink 0.1 percent on a monthly basis in April, reversing a 0.2 percent rise in March.
RTTNews | 23 minutes ago
Sensex, Nifty Subdued In Cautious Trade

Sensex, Nifty Subdued In Cautious Trade

Indian shares were subdued on Thursday as investors assessed U.S. President Donald Trump's declaration that a trade deal with China was "done" and that he would set unilateral tariff rates for trading partners within two weeks.
RTTNews | 40 minutes ago
Australian Market Doubles Early Gains In Mid-market

Australian Market Doubles Early Gains In Mid-market

The Australian market is doubling its early gains in mid-market moves on Thursday, extending the gains in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains in gold miners and energy stocks partially offset by weakness in iron ore miners.
RTTNews | 1h 4min ago
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Thursday, following the broadly negative cues from Wall Street overnight, after US President Donald Trump said he and Chinese President Xi Jinping "are going to work closely together to open up China to American Trade." However, signs of escalating geopolitical tensions in the Middle East are weighing on market sentiment.
RTTNews | 1h 55min ago
Sensex, Nifty Seen Lower As Investors Monitor Trade, Geopolitical Developments

Sensex, Nifty Seen Lower As Investors Monitor Trade, Geopolitical Developments

Indian shares look set to open lower on Thursday as oil prices climbed on signs of rising tensions in the Middle East and U.S. President Donald Trump said he would notify trading partners within the next one to two weeks about the new unilateral tariff rates, with the choice to accept or reject them.
RTTNews | 2h 32min ago
Rally May Stall For Thai Stock Market

Rally May Stall For Thai Stock Market

The Thai stock market has moved higher in back-to-back sessions, collecting more than 6 points or 0.6 percent along the way. The Stock Exchange of Thailand now rests just above the 1,140-point plateau although it may be stuck in neutral on Thursday.
RTTNews | 3h 5min ago
Japanese Market Notably Lower

Japanese Market Notably Lower

The Japanese market is trading notably lower on Thursday, snapping a four-session winning streak, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 38,200 level, with weakness across most sectors led by automakers, exporters and technology stocks. Financial stocks are the only bright spot.
RTTNews | 3h 27min ago
Indonesia Bourse May Extend Wednesday's Losses

Indonesia Bourse May Extend Wednesday's Losses

The Indonesia stock market on Wednesday ended the three-day winning streak in which it had gained almost 190 points or 2.7 percent. The Jakarta Composite Index now rests just above the 7,220-point plateau and the losses may accelerate on Thursday.
RTTNews | 3h 35min ago