Dollar Steady in Asia Ahead of Jobs Report

Dollar Steady in Asia Ahead of Jobs Report

By Administrator_India

Capital Sands

The US dollar index that tracks the greenback against a basket of currencies was flat at 92.47 by 10:23 PM ET.

Data on non-farm payrolls out on Friday in the U.S. could shed some light on the strength of the economic recovery there. On Thursday, the U.S. Department of Labor reported initial jobless claims fell to 881,000 for the week to Aug. 28, lower than forecasts of 950,000.

The USD/JPY pair inched up 0.01% to 106.18. On Wednesday, Chief Cabinet Secretary Yoshihide Suga declared his candidacy to lead the Liberal Democratic Party and succeed outgoing Prime Minister Shinzo Abe.

The USD/CNY pair edged down 0.03% to 6.8417. The Chinese currency is up about 5% against the greenback since May. The People’s Bank of China  set the daily reference rate for the yuan at 6.8359 compared to 6.8319 on Thursday.

The AUD/USD pair edged down 0.01% to 0.7270 and the NZD/USD pair inched down 0.10% to 0.6704.

The GBP/USD pair was up 0.03% to 1.3285.

On Thursday, both Japan and China released PMI figures for August with slight dips. Japan’s August services PMI came in at 45, slightly below July’s 45.4. China’s Caixin services PMI for August was 54 against July’s 54.1.

Author: Administrator_India

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