Forex

Dollar declines against most major currencies

The US dollar is depreciating against major world currencies this morning, investors are evaluating the statements of the leaders of the Federal Reserve System and statistical data.

The day before, the head of the Federal Reserve Bank of Atlanta, Rafael Bostic, said that he supports raising the key interest rate in the US by another 125 basis points by the end of the year, to 4.5%. Meanwhile, San Francisco Fed colleague Mary Daly told CNN that the central bank should raise borrowing costs even higher and keep them high until inflation starts approaching 2%.

It became known yesterday that the index of business activity in the US services sector (ISM Non-Manufacturing) in September decreased to 56.7 points compared to 56.9 points a month earlier, data from the Institute of Supply Management (ISM) showed. Analysts, on average, assumed a more significant drop, to 56 points, according to Trading Economics.

Now all the attention of market participants is directed to data on the US labor market, which will be published on Friday. Experts believe that the unemployment rate in the country in September remained at the August mark of 3.7%, and the number of new jobs increased by 315 thousand people.

Read also:  The dollar weakens against the euro and the yen

As of 9:10 Moscow time, the euro rose against the dollar by 0.33% – to $0.9917 compared to $0.9884 at the close of the session on Wednesday.

The rate of the American currency against the yen is reduced by 0.08% and amounts to 144.53 yen compared to 144.64 yen the day before.

The pound rose 0.09% to $1.1336 compared to $1.1326 at the close of the previous session.

The ICE-calculated index showing the dynamics of the US dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona) is down 0.2%, the broader WSJ Dollar is down 0.25%

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Hugo
Hugo
1 year ago

This is not the best news for me right now

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