Last week’s high: $1.3256
Last week’s low: $1.3028
US Dollar Pushed Higher by Strong Jobs Figures
There was little on the UK economic calendar on Friday, although a decline in new car sales suggested consumers were not feeling confident enough about the economy to make big purchases. Meanwhile, the latest US non-farm payrolls report showed an increase in hiring of 209,000 in July, beating forecasts for 180,000. The unemployment rate fell to 4.3% as expected and odds that the Federal Reserve will hike interest rates in December climbed back above the 50% mark. The US Dollar broadly strengthened after the jobs data was published.
USD Outlook: Will Bullard and Kashkari Undermine Hike Odds?
There is no particularly relevant data due from the US today, but speeches from Federal Reserve officials James Bullard and Neel Kashkari could change bets of further monetary tightening in December. Bullard is considered moderately cautious regarding interest rate hikes, while Kashkari is very cautious, so hopes for a final adjustment in 2017 could fall after they have spoken.
16:45 USD Fed’s Bullard Speaks on U.S. Economy in Nashville, TN
18:25 USD Fed’s Kashkari Speaks in Bloomington, MN
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