020 7898 0500The U.S. currency was firm against its rivals even though non-farm payrolls came out a little worse than expected on Friday, at 209,000 in comparison to a forecast of 233,000. This caused a momentary and slight weakness for the dollar; however, it continued to strengthen against most currencies, apart from against the euro, as the day progressed. There was also disappointment that unemployment had risen to 6.2% and wage growth had remained stagnant. This confirmed the news from the US Federal Reserve later on that job recovery remained unstable.
The disappointing unemployment data doesn’t seem to have undermined the US dollar in the short term as the markets continue to focus on when interest rates will be increased by the Federal Reserve. This week, there is important non-manufacturing data out of the US on Tuesday. The most important data out next week will be the jobless figures out on Thursday.
