Dollar edges higher after larger-than-expected rise in May payrolls
Updates prices, adds unemployment rate from report in paragraph 3, adds analyst quote in paragraph 7, adds comments from Fed officials in paragraphs 8 and 9, adds FX table
By Hannah Lang
WASHINGTON, June 2 (Reuters) -The U.S. dollar edged higher in choppy trading on Friday after May's non-farm payrolls report showed employment surged but a jump in unemployment rate capped the gains.
The report showed that payrolls in the public and private sector increased by 339,000 in May, surging past expectations. Economists polled by Reuters expected non-farm payrolls to have increased by 190,000 in May, from April's 253,000 rise.
Despite strong hiring, the unemployment rate rose to 3.7% from a 53-year low of 3.4% in April.
The dollar index =USD, which measures the U.S. currency against six others, was last up 0.193% at 103.720.
On Thursday, the dollar index slid 0.62%, its worst day in almost a month, as the view took hold that the U.S. Federal Reserve will forgo an interest rate hike this month, which would diminish the greenback's appeal to non-U.S. buyers.
Money markets are pricing in a roughly 29% chance of a June hike, down from near 70% earlier in the week. FEDWATCH
"The challenge is that we've entered the Fed's blackout period ahead of the [Federal Open Market Committee] meeting, which means it's going to be hard to see a pushback from officials or any guidance from officials after this employment report," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
Philadelphia Fed President Patrick Harker said on Thursday it was "time to at least hit the stop button for one meeting and see how it goes", referring to the Fed's upcoming June 13-14 meeting.
A day earlier, Fed Governor Philip Jefferson said "skipping a rate hike at a coming meeting would allow the committee to see more data before making decisions about the extent of additional policy firming."
Still, Fed officials aren't ruling out a hike later in the summer, said City Index markets strategist Fiona Cincotta.
"I think that expectation could still keep the dollar supported," she said. "Also, let's not forget inflation is still high."
The U.S. Senate's passage of a bill Thursday night to suspend the debt ceiling and avert a disastrous default also removed a pillar of support for the dollar, which had paradoxically been a key beneficiary of the uncertainty because of its safe-haven status.
The euro EUR=EBS was last down 0.2% at $1.07405, off its highest in around a week after a boost on Thursday from European Central Bank President Christine Lagarde, who said further policy tightening was necessary.
The Australian dollar AUD=D4 surged after Australia's independent wage-setting body announced that it would raise the minimum wage by 5.75% from July 1, stoking bets for another raise in rates next week. The Aussie rose by as much as 0.93% to $0.663, its strongest since May 24, and was last up 0.72% versus the greenback at $0.662.
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Currency bid prices at 10:20AM (1420 GMT)
Description | RIC | Last | U.S. Close | Pct Change | YTD Pct | High Bid | Low Bid |
Dollar index | =USD | 103.7200 | 103.5400 | +0.19% | 0.222% | +103.7600 | +103.3800 |
Euro/Dollar | EUR=EBS | $1.0739 | $1.0762 | -0.20% | +0.24% | +$1.0779 | +$1.0735 |
Dollar/Yen | JPY=EBS | 139.5050 | 138.8150 | +0.49% | +6.39% | +139.5100 | +138.6000 |
Euro/Yen | EURJPY= | 149.81 | 149.36 | +0.30% | +6.78% | +149.8800 | +149.2600 |
Dollar/Swiss | CHF=EBS | 0.9077 | 0.9055 | +0.27% | -1.82% | +0.9085 | +0.9037 |
Sterling/Dollar | GBP=D3 | $1.2508 | $1.2526 | -0.12% | +3.45% | +$1.2544 | +$1.2495 |
Dollar/Canadian | CAD=D3 | 1.3435 | 1.3449 | -0.08% | -0.82% | +1.3450 | +1.3408 |
Aussie/Dollar | AUD=D3 | $0.6619 | $0.6573 | +0.72% | -2.88% | +$0.6638 | +$0.6572 |
Euro/Swiss | EURCHF= | 0.9746 | 0.9743 | +0.03% | -1.51% | +0.9760 | +0.9731 |
Euro/Sterling | EURGBP= | 0.8583 | 0.8592 | -0.10% | -2.95% | +0.8599 | +0.8579 |
NZ Dollar/Dollar | NZD=D3 | $0.6079 | $0.6070 | +0.16% | -4.24% | +$0.6111 | +$0.6060 |
Dollar/Norway | NOK=D3 | 11.0080 | 11.0480 | -0.28% | +12.26% | +11.0620 | +10.9640 |
Euro/Norway | EURNOK= | 11.8235 | 11.8970 | -0.62% | +12.67% | +11.9295 | +11.8038 |
Dollar/Sweden | SEK= | 10.7580 | 10.8021 | -0.70% | +3.36% | +10.8170 | +10.6850 |
Euro/Sweden | EURSEK= | 11.5484 | 11.6296 | -0.70% | +3.56% | +11.6364 | +11.5097 |
Rate outlook flip flops https://tmsnrt.rs/3MJf3f2
World FX rates https://tmsnrt.rs/2RBWI5E
Reporting by Hannah Lang in Washington; Additional reporting by Amanda Cooper and Dhara Ranasinghe in London and Kevin Buckland in Tokyo
Editing by Mark Heinrich, Mark Potter, Andrew Heavens, Emelia Sithole-Matarise and Sriraj Kalluvila
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إخلاء المسؤولية: تتيح كيانات XM Group خدمة تنفيذية فقط والدخول إلى منصة تداولنا عبر الإنترنت، مما يسمح للشخص بمشاهدة و/أو استخدام المحتوى المتاح على موقع الويب أو عن طريقه، وهذا المحتوى لا يراد به التغيير أو التوسع عن ذلك. يخضع هذا الدخول والاستخدام دائماً لما يلي: (1) الشروط والأحكام؛ (2) تحذيرات المخاطر؛ (3) إخلاء المسؤولية الكامل. لذلك يُقدم هذا المحتوى على أنه ليس أكثر من معلومات عامة. تحديداً، يرجى الانتباه إلى أن المحتوى المتاح على منصة تداولنا عبر الإنترنت ليس طلباً أو عرضاً لدخول أي معاملات في الأسواق المالية. التداول في أي سوق مالي به مخاطرة عالية برأس مالك.
جميع المواد المنشورة على منصة تداولنا مخصصة للأغراض التعليمية/المعلوماتية فقط ولا تحتوي - ولا ينبغي اعتبار أنها تحتوي - على نصائح أو توصيات مالية أو ضريبية أو تجارية، أو سجلاً لأسعار تداولنا، أو عرضاً أو طلباً لأي معاملة في أي صكوك مالية أو عروض ترويجية مالية لا داعي لها.
أي محتوى تابع للغير بالإضافة إلى المحتوى الذي أعدته XM، مثل الآراء، والأخبار، والأبحاث، والتحليلات والأسعار وغيرها من المعلومات أو روابط مواقع تابعة للغير وواردة في هذا الموقع تُقدم لك "كما هي"، كتعليق عام على السوق ولا تعتبر نصيحة استثمارية. يجب ألا يُفسر أي محتوى على أنه بحث استثماري، وأن تلاحظ وتقبل أن المحتوى غير مُعدٍ وفقاً للمتطلبات القانونية المصممة لتعزيز استقلالية البحث الاستثماري، وبالتالي، فهو بمثابة تواصل تسويقي بموجب القوانين واللوائح ذات الصلة. فضلاً تأكد من أنك قد قرأت وفهمت الإخطار بالبحوث الاستثمارية غير المستقلة والتحذير من مخاطر المعلومات السابقة، والذي يمكنك الاطلاع عليه هنا.
