During
last week some encouraging data about US economy was revealed, helping
to reverse the downward dollar trend of the last fifteen days. On
Wednesday the Department of Labor reported that 280.000 jobs were
created, 80.000 more than expected. According to statistics published
on Thursday, the unemployment rate fell to 6.1%, below expectations for a
decrease of 6.3%.
As
a consequence, the dollar appreciated against several currencies and
some of the main stock market indices reached historical highs.
Elsewhere
in the United Kingdom, given the suggestion that the Bank of England
could raise its interest rates sooner than expected, the pound strongly
appreciated again. As a result, the pair GBP/USD reached its highest
value since 2009, to settle over 1.71.
The
EUR/USD pair fell from levels near 1,37 at the beginning of the week, to less
than 1,358 this Monday, reversing last week’s trend. The latest
encouraging data about the US economy helped to create expectations
regarding sooner-than-expected changes in the Fed’s monetary policy
After
touching a three-month high during last week, the gold slipped
from $1.330 dollars per ounce, to less than $1,315. The reasons of this
decrease are connected to the recent performance of the dollar other
than to problems in Iraq and conflicts in Ukraine, that could trigger a new increase of the precious metal in the
mid term depending
on the importance.
Several
important announcements are expected for the rest of the week and Money
Executive will be delighted to bring them to your attention.
