The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
webinar-thumb-1108
Estate Planning: Building a Legacy for the Future 
November 8, 2022
Webinar-mobile-desktop-267x320-1
Outlook 2022: Recover. Restart. Rebalance.
March 31, 2022
View All Webinars
Downloads
grocery-market-aa-5
Inflation Report
Inflation Updates (December 5, 2023) 
DOWNLOAD
grocery-shopping-cart-as
Economic Updates
November 2023 Updates: Upward tilt of inflation still a possibility 
DOWNLOAD
Commuters-aa
Economic Updates
3Q 2023 PH GDP Report: Upward bias for full-year GDP forecast
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investment Path Advisory
  • On Government Debt Thresholds: How Much is Too Much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
webinar-thumb-1108
Estate Planning: Building a Legacy for the Future 
November 8, 2022
Webinar-mobile-desktop-267x320-1
Outlook 2022: Recover. Restart. Rebalance.
March 31, 2022
View All Webinars
Downloads
grocery-market-aa-5
Inflation Report
Inflation Updates (December 5, 2023) 
December 5, 2023 DOWNLOAD
grocery-shopping-cart-as
Economic Updates
November 2023 Updates: Upward tilt of inflation still a possibility 
November 22, 2023 DOWNLOAD
Commuters-aa
Economic Updates
3Q 2023 PH GDP Report: Upward bias for full-year GDP forecast
November 10, 2023 DOWNLOAD
View all Reports
Currencies 3 MIN READ

Dollar hits four-week peak on resilient US jobs market

January 6, 2023By Reuters
Related Articles
BRIEF-Merrymart Consumer Corp Signed Agreement With Zc Ramthel Corporation March 9, 2022 Yields briefly pop to nearly 10-month highs after strong US retail sales August 15, 2023 Australian shares flat as miners offset gains from banks March 9, 2023

LONDON, Jan 6 (Reuters) – The dollar held near an almost one-month high on Friday, after US economic data highlighted a still-tight labour market that could keep the Federal Reserve on its aggressive rate hike path.

The number of Americans filing new claims for jobless benefits dropped to a three-month low last week while layoffs fell 43% in December, data on Thursday showed.

A separate report also revealed that private employment increased by 235,000 jobs last month, far exceeding expectations for a 150,000 increase.

Against a basket of currencies, the US dollar index rose 0.2% to 105.3, having briefly touched a four-week peak of 105.36.

The index was on track for a weekly gain of more than 1.8%, its largest since September.

“Strong labour market data means the narrative that the Fed can keep hiking interest rates is alive,” said Giles Coghlan, chief market analyst at HYCM.

“That’s why we saw the reaction in the dollar to the positive labour data yesterday,” Coghlan added.

Most major currencies were nursing losses on Friday, after the surging greenback knocked them to multi-week lows in the previous session.

The euro extended on the 0.8% decline in the previous session to touch a more than three-week low of USD 1.05075.

Against the Japanese yen, the dollar climbed 0.7% to hit 134.45 yen, its highest level in over a week.

Markets now turn their attention to the closely-watched nonfarm payrolls report due later on Friday, with economists polled by Reuters forecasting the US economy to have added 200,000 jobs in December.

“Today, it’s exactly the same narrative as yesterday. If the labour market is doing well, then we’re likely to see more dollar strength,” HYCM’s Coghlan said, adding that a payrolls number towards the lower end of expectations could see the dollar weaken and give comfort to the Fed that their hiking cycle is working.

December’s flash inflation figures for the euro zone will also be out on Friday, where expectations are for an annual inflation rate of 9.7%, down from 10.1% in November.

Data from Germany, France, Italy and Spain have already showed a slowdown in inflation last month, suggesting that euro zone consumer prices should have eased in December.

“Lower energy prices are likely to have driven a marked fall in headline CPI inflation in December,” said Hann-Ju Ho, senior economist, commercial banking at Lloyds Bank in a note.

“However, this will likely provide limited comfort for ECB policymakers, especially as core inflation excluding food and energy is forecast to continue accelerating.”

Elsewhere, sterling was last 0.2% lower at USD 1.1883, having fallen to a six-week low of USD 1.1873 on Thursday.

The Aussie was last little changed at USD 0.6753, after sliding 1.3% in the previous session and reversing most of the gains it made earlier in the week on news that China has eased its restrictions on coal imports from Australia.

The kiwi was flat at USD 0.6220, following a 1% slump on Thursday, and was on track for a weekly loss of close to 2%, its worst since September.

(Reporting by Samuel Indyk in London and Rae Wee in Singapore; Editing by Jacqueline Wong and Kim Coghill)

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2021 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up