US dollar finally strengthened. US unemployment at 4.9%.

US dollar strengthened against major currencies during European session. The pair was trading above 1.1200 level started from yesterday and during most of the time today before it dropped to 1.1109 at the end of European hours and closed the session at 1.1130, which is 0.63% lower than the previous close.

The reason for strong dollar was the US jobs announcement by Labor Department, according to which the US economy added 151K new jobs in January compared with a forecast of 190K. However the unemployment rate drops to 4.9%, the lowest figure in 8 years.

EURO-DOLLAR.Com Top Forex Brokers
Trade EUR/USD with AVA Trade
Trade EUR/USD with eTORO
Trade EUR/USD with XM.Com

sdsdfs

Federal Reserve Chair Janet Yellen reported that the US economy have to add about 100,000 jobs a month to keep up with growth in the working age population.

According to some analysts, the slowdown can force the Fed to postpone another interest rate hike next month.

As per the Cleveland Fed President Loretta Mester despite the risks posed by the global selloff in stocks and oil markets through January, she is not about to cut her expectations of continued U.S. economic growth and labor market improvement.

European markets declined today following the announcement of slowing growth in US jobs. The major indices have the following performance today:

  • FTSE 100 closed at 5,848.06, declining 0.86%.
  • CAC 40 lost 0.66%, finishing at 4,200.67.
  • Euro Stoxx 50 was trading at 2,878.07, down 0.94%.
AVA Trade
Trade With Confidence
Award-winning innovative broker. Segregated accounts with leading international banks.+200 financial instruments for trading.
XM
$30 No Deposit Bonus
Open an XM Zero account and trade with spreads as low as 0! Average EUR/USD spread 0.1
eToro Social Trading
Copy Successful Traders
Automatically copy leading traders in eToro community. Expert trader? get copied yourself to earn a second income!

I’m a finance specialist with 4+ years of working experience, out of which 2 years as a SME relationship manager at Byblos Bank and 2 years as a Finance Director in a Food & Beverage sector. My academic background include BA in economics, MA in finance, CFA Level 1 and F1, F2, F3 level of ACCA. I’m also experienced in Forex/CFD trading and Forex/ Equity markets analysis.

Tags: , ,

Leave a Reply

You must be logged in to post a comment.