The US Currency Is Recovering. Investors Assess a Report on the US Labor Market

On Friday, the US dollar corrected against a basket of currency majors. The US dollar index (#DX) closed the trading session in the green zone (+0.69%). The US currency was supported by optimistic data on the labor market for July. Thus, the number of people employed in the nonfarm sector increased by 1,763K, while experts forecasted 1,600K. Average hourly earnings rose by 4.8% in July instead of 4.1%. The unemployment rate fell to 10.2%.

The US Congress couldn't agree on a new round of economic assistance to the country. Therefore, on Saturday, Donald Trump signed a series of decrees aimed at supporting the US economy. The President has extended payments to the unemployed until December at $400 per week. Trump also introduced a deferral of payroll tax payments for Americans who receive less than $100 thousand a year, and also introduced measures to help tenants and homeowners.

The "black gold" prices are recovering after the decline. At the moment, futures for the WTI crude oil are testing $41.95 per barrel.

Market indicators

On Friday, there was a variety of trends in the US stock market: #SPY (+0.07%), #DIA (+0.26%), #QQQ (-1.15%).

The 10-year US government bonds yield has grown. At the moment, the indicator is at the level of 0.56-0.57%.

The news feed for 2020.08.10:
  • - JOLTS job openings in the US at 17:00 (GMT+3:00).

by JustForex, 2020.08.10

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.

Open Account

Get Free Analytics

* required fields