Investing.com - The dollar moved higher against most major
currencies on Monday as markets continued to applaud Friday's
better-than-expected February jobs report, while soft Chinese trade
figures boosted the greenback as well.
In U.S. trading on Monday, EUR/USD was down 0.05% at 1.387.
The Bureau of Labor Statistics reported Friday that the U.S.
economy added 175,000 jobs in February, beating expectations for a
January's figure was revised up to 129,000 from 113,000.
The data extended the dollar's gains into Monday, as the Federal
Reserve has said it will pay close attention to data when deciding
on how quickly it will dismantle its monthly bond-buying
Fed bond purchases, currently set at $65 billion a month, weaken
the dollar by suppressing interest rates to spur recovery by
encouraging investing and hiring.
Separately, soft Chinese trade data supported the greenback by
bolstering its appeal as a safe-haven asset class.
Data released over the weekend showed that Chinese exports fell
18.1% on-year in February, defying expectations for a 6.8%
increase, following a rise of 10.6% in January.
A separate report showed that the annual rate of inflation in
China slowed to 2.0% in February, from 2.5% in January.
The numbers confirmed market concerns that emerging markets are
Elsewhere, the euro saw some support on market views that the
European Central Bank will hold off on stimulating the economy
Last week, the ECB left its benchmark interest rate unchanged at
0.5%, as recent data indicated moderate economic recovery was
taking place in the euro zone.
Elsewhere in Europe, investor confidence in the euro zone for
March rose to its highest level since April 2011, easing concerns
over the outlook for the region's economy, data showed on
Market research group Sentix reported earlier that its index of
investor confidence improved to 13.9 this month from a reading of
13.3 in February. Analysts were expecting the index to increase to
14.0 in March.
On the index, a level above 0.0 indicates optimism, below
Separately, French industrial output fell unexpectedly in
January, official data showed on Monday.
In a report, INSEE said that French Industrial Production fell
to -0.2% in January from -0.6% in the preceding month.
Analysts had expected French Industrial Production to rise 0.2%
Elsewhere, the dollar was down against the yen, with USD/JPY
down 0.06% at 103.20, and up against the Swiss franc, with USD/CHF
up 0.03% at 0.8781.
In Japan, data revealed the economy grew 0.2% in the final three
months of 2013, missing market calls for a 0.3% reading.
On a year-over-year basis, the economy expanded by 0.7%, missing
expectations for a 1.0% reading.
The numbers softened the yen earlier though demand from
investors fleeing exposure to emerging markets gave the Japanese
The greenback was up against the pound, with GBP/USD down 0.45%
The dollar was up against its cousins in Canada, Australia and
New Zealand, with USD/CAD up 0.14% at 1.1103, AUD/USD down 0.58% at
0.9018 and NZD/USD down 0.06% at 0.8465.
The dollar index, which tracks the performance of the greenback
versus a basket of six other major currencies, was up 0.04% at
offers an extensive set of professional tools for the financial
Read more News on Investing.com and download the new
Investing.com Stocks & Forex App