The Report on the Labor Market in the US Supported the US Currency

Demand for the US currency increased significantly after the publication of positive statistics on the labor market in the US. In July, 209,000 jobs were created in the non-agricultural sector of the country, which is 14.2% more than the forecast value. Average hourly earnings increased by 0.3%. The unemployment rate fell to 4.3%. This report has strengthened expectations of another increase in the Fed's interest rate this year among investors.

In the current trading week, the main event will be the report on inflation in the US, which will be published on Friday. This statistic may indicate the time of the next increase in the Fed's interest rate.

At the moment, prices for "black gold" are stable. Futures for WTI crude oil are traded slightly above $49 per barrel. The participants of the financial markets are following the OPEC meeting, which will be held on August 7-8.

Market Indicators

The main US stock indexes are near the historical highs. SPY (SPDR S&P 500 ETF) closed at 247.41 USD (+0.18%).

The 10-year US government bonds yield demonstrates positive dynamics. At the moment, the indicator is at the level of 2.26-2.27%.

News background on 2017.08.07:

Today, we recommend you to pay attention to the speeches of the FOMC representatives Bullard and Kashkari – 18:45 (GMT+3:00) and 20:25 (GMT+3:00), respectively.

Financial markets in Canada are closed due to the holiday.

by JustForex, 2017.08.07

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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