Posts Tagged ‘jobs’

Traders are preparing for news from the US Senate Banking Committee as Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is set to give testimony before the committee on rate hikes.

In the meantime, the US dollar has kept up with Monday’s gains and is in the green with an increase of 0.15% for online forex trading.
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The US Labor Department today announced that nonfarm payroll jobs increased by 192.000 last month. However, in spite of this seemingly positive news, the dollar index slipped back 0.07%.

The index is made up of the six major currencies against which the dollar is traded.

The fall can perhaps be partially attributed to the fact that although the numbers were positive, investors were hoping for even stronger job figures; the buzz in advance of the announcement was that 200,000 jobs would have been added in the last month.

Notwithstanding today’s fall, the index has still shown an overall rise over the course of this past week, in keeping with the upward trend for the dollar since the middle of March.
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