Posts Tagged ‘US Dollar Index’

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.
(more…)

While the Euro had slid considerably last week after the recent round of ECB interest rate cuts, the announcement by ECB president Mario Draghi that further cuts may be necessary has further dampened the outlook for this embattled currency.

Many online forex traders take such a stance as an indicator that economic conditions in Europe are far from sorting themselves out in the short to medium-term.
(more…)