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U.S. Dollar Higher After Strong Jobs Data
(RTTNews) - The U.S. dollar was higher against its major counterparts in the New York session on Thursday, following the release of strong jobs data for June.
Nonfarm payroll employment rose by 147,000 jobs in June after jumping by an upwardly revised 144,000 jobs in May.
Economists had expected employment to increase by 110,000 jobs compared to the addition of 139,000 jobs originally reported for the previous month.
The unemployment rate edged down to 4.1 percent in June from 4.2 percent in May. The unemployment rate was expected to rise to 4.3 percent.
Separate data showed that the ISM services PMI edged up to 50.8 in June from 49.9 in May. The reading matched estimates.
The greenback climbed to 3-day highs of 1.1716 against the euro and 0.7987 against the franc. The currency is poised to find resistance around 1.13 against the euro and 0.88 against the franc.
The greenback advanced to a 3-day high of 0.6537 against the aussie and 1-week highs of 145.23 against the yen and 0.6030 against the kiwi. The next possible resistance for the currency is seen around 0.63 against the aussie, 148.00 against the yen and 0.59 against the kiwi.
The greenback edged up to 1.3584 against the pound. The currency may find resistance around the 1.34 level. In contrast, the greenback retreated to more than a 2-week low of 1.3556 against the loonie. The currency is seen finding support around the 1.34 level.
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