• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Dollar near one-month low as payrolls test looms

September 3, 2021 by David Barret Leave a Comment

September 3, 2021

By Kevin Buckland

TOKYO (Reuters) – The dollar sank to its lowest in almost a month against major rivals on Friday, ahead of a crucial U.S. jobs report that could spur the Federal Reserve to an earlier tapering of stimulus.

The dollar index, which measures the greenback against six peers, slipped 0.04% to 92.193 after earlier touching 92.189 for the first time since Aug. 5.

The euro edged up 0.02% to $1.1878, after hitting the highest since Aug. 4 at $1.1880.

The U.S. central bank has made a labour market recovery a condition for paring pandemic-era asset purchases.

The dollar had been strengthening for most of last month on the view that a taper could be imminent, even as COVID-19 cases spiked in the United States, which paradoxically gave the currency an additional boost because of its role as a safe haven.

But the dollar index retreated after hitting a 9 1/2-month high of 93.734 on Aug. 20 as Fed officials began suggesting the virus’ spread could delay policy tightening.

Chair Jerome Powell said at the Fed’s Jackson Hole symposium a week ago that a taper was still possible this year, but there was no hurry to subsequently raise interest rates, sending the dollar down further.

Monthly non-farm payrolls, due later Friday, are expected to rise by 750,000, with the unemployment rate falling to 5.2% from 5.4%, according to a Reuters poll of economists. However, estimates range widely, from as little as 375,000 to over a million.

Signals from the economy ahead of the report have been mixed. Overnight, data showed layoffs dropped to their lowest in more than 24 years. However, the ADP National Employment Report on Wednesday was much weaker than economists expected.

Commonwealth Bank of Australia forecasts the United States added 800,000 jobs last month, which it says would be enough to spur the Fed to taper, although the bar for an announcement at this month’s meeting has been raised by the current outbreak.

“The risk is uncertainty associated with the virus stands in the way of an imminent taper announcement,” which would reverse any dollar gains from a strong payrolls report, CBA strategists wrote in a client note.

The Australian dollar was little changed at $0.74005 from Thursday, when it reached the highest since Aug. 5 at $0.74095.

The New Zealand dollar was about flat at $0.71145 after rising to the highest since June 16 at $0.7120 in the previous session.

The greenback was little changed at 109.915 yen, holding near the centre of its trading range since early July.

(Reporting by Kevin Buckland; Editing by Sam Holmes)

Source Link Dollar near one-month low as payrolls test looms

David Barret
David Barret

Related posts:

  1. Tajikistan can’t afford to take in Afghan refugees without help -police chief
  2. Russia threatens to fine Apple, Google unless they remove Navalny app, Ifax reports
  3. Polish president imposes state of emergency on Belarus border
  4. Britain’s Raab, in Qatar, cites need to engage with Taliban

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • “I Wasn’t Prepared For The Sheer Number Of Them”: Cave Of Mummified Never-Before-Seen Eyeless Invertebrates Amazes Scientists
  • Asteroid Day At 10: How The World Is More Prepared Than Ever To Face Celestial Threats
  • What Happened When A New Zealand Man Fell Butt-First Onto A Powerful Air Hose
  • Ancient DNA Confirms Women’s Unexpected Status In One Of The Oldest Known Neolithic Settlements
  • Earth’s Weather Satellites Catch Cloud Changes… On Venus
  • Scientists Find Common Factors In People Who Have “Out-Of-Body” Experiences
  • Shocking Photos Reveal Extent Of Overfishing’s Impact On “Shrinking” Cod
  • Direct Fusion Drive Could Take Us To Sedna During Its Closest Approach In 11,000 Years
  • Earth’s Energy Imbalance Is More Than Double What It Should Be – And We Don’t Know Why
  • We May Have Misjudged A Fundamental Fact About The Cambrian Explosion
  • The Shoebill Is A Bird So Bizarre That Some People Don’t Even Believe It’s Real
  • Colossal’s “Dire Wolves” Are Now 6 Months Old – And They’ve Doubled In Size
  • How To Fake A Fossil: Find Out More In Issue 36 Of CURIOUS – Out Now
  • Is It True Earth Used To Take 420 Days To Orbit The Sun?
  • One Of The Ocean’s “Most Valuable Habitats” Grows The Only Flowers Known To Bloom In Seawater
  • World’s Largest Digital Camera Snaps 2,104 New Asteroids In 10 Hours, Mice With 2 Dads Father Their Own Offspring, And Much More This Week
  • Simplest Explanation For “Anomalous” Signals Coming From Underneath Antarctica Ruled Out
  • “Lizard Shampoo” And Pagan Texts Suggest “Dark Age” Medicine Wasn’t So Dark After All
  • Japanese Macaques May Mourn Their Dead – As Long As They’re Not Maggot-Infested
  • This Is What You’d Hear If You Listened To Voyager’s Golden Record NASA Sent To Interstellar Space
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version