Dollar Turns Weak After Jobs Data

RTTNews | 1012 gün önce
Dollar Turns Weak After Jobs Data

(RTTNews) - The U.S. dollar turned weak on Friday amid easing worries about an aggressive rate hike by the Fed later this month after data showed a moderation in the pace of U.S. job growth and an uptick in unemployment rate in August.

The report showed non-farm payroll employment rose by 315,000 jobs in August after surging by a revised 526,000 jobs in July.

Economists had expected employment to increase by about 300,000 jobs compared to the jump of 528,000 jobs originally reported for the previous month.

Meanwhile, the Labor Department said the unemployment rate edged up to 3.7 percent in August from 3.5 percent in July. Economists had expected the unemployment rate to remain unchanged.

The unexpected uptick by the unemployment rate came as the labor force increased by 786,000 persons, more than outpacing the 442,000-person growth in the household measure of employment.

Amid recent concerns about the outlook for interest rates, the jobs data was described as a "goldilocks" report by some economists, coming in neither too hot nor too cold.

Meanwhile, data released by the Commerce Department showed factory orders slumped by 1% in July after surging by a revised 1.8% in June.

The steep drop surprised economists, who had expected factory orders to edge up by 0.2% compared to the 2% jump originally reported for the previous month.

The unexpected pullback in factory orders was partly due to a notable decrease in orders for non-durable goods, which tumbled by 1.9% in July after shooting up by 1.4% in June.

The report also showed durable goods orders edged down by 0.1% in July after spiking by 2.3% in June. Last week, the Commerce Department said durable goods orders were virtually unchanged.

The dollar index, which surged to 109.98 in the previous session, dropped to 108.93 before recovering to 109.60, down just marginally from the previous close.

Against the Euro, the dollar weakened to 0.9959 from 0.9948.

The dollar recovered to 1.1516 against Pound Sterling after falling to 1.1589.

Against the Japanese currency, the dollar is roughly flat, fetching 140.22 yen a unit, after having climbed to 140.80 yen earlier in the session.

read more
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 3s 19 dakika önce
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | 4s 20 dakika önce
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | 4s 45 dakika önce
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 5s 14 dakika önce
Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
RTTNews | 5s 45 dakika önce
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | 6s 11 dakika önce
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | 6s 15 dakika önce