The U.S. dollar was higher against major pairs on Friday, but not enough to end up the week on positive territory. A stock market rout took its toll on the greenback and the subsequent rebound in stock prices supported the currency ahead of the weekend.
The U.S. dollar was mixed Friday. The GBP deserves a special mention as positive Brexit rumors pushed it 0.61 percent higher against the USD. The American currency lost momentum as the U.S. non farm payrolls (NFP) headline jobs number disappointed with a 130,000 added positions, instead of the forecasted 188,000.
The U.S. dollar rose on Friday against all major pairs after a strong U.S. nonfarm payrolls report was published.
The U.S. added 201,000 jobs, but more importantly hourly wages beat expectations in August coming in at 0.4 percent. The market has priced in a rate hike by the Fed when Federal Open Market Committee members meet on September 25–26.
The U.S. dollar fell after the nonfarm payroll came in below expectations, but the greenback is still higher against most majors on a weekly basis. The past week featured central banks and influential economic indicators, but the guiding factor remains the trade tensions between China and the United States.
Here’s your week ahead.