Investing.com - The dollar slipped lower against a basket of
other major currencies on Friday, after the release of lower than
expected jobs data, but the greenback still remained close to a
14-month peak hit earlier in the session.
In a report, the Department of Labor said that the U.S. economy
added 142,000 jobs in August, less than the expected increase of
225,000. The number of jobs added in July was revised to a 212,000
increase from a previously estimated rise of 209,000.
The report also showed that the U.S. unemployment rate ticked
down to 6.1% last month, from 6.2%, in line with expectations.
The data came a day after the ADP nonfarm payrolls report showed
that the private sector added less jobs than expected in August,
while a separate report showed that the number of people who filed
for unemployment assistance in the U.S. last week rose more than
EUR/USD edged up 0.15% to 1.2965 but remained within close
distance of Thursday's 14-month low of 1.2918.
The euro fell sharply after the European Central Bank cut its
benchmark interest rate to a record-low 0.05% from 0.15%,
surprising most market analysts who had expected no change.
In addition, ECB President Mario Draghi said the bank will begin
an asset-backed securities program, to purchase non-financial
assets, including covered bonds.
Earlier Friday, official data showed that German industrial
production rose 1.9% in July, beating expectations for an uptick of
0.3%, after a revised 0.4% increase in June.
GBP/USD held steady, near seven-month lows, at 1.6323 as
uncertainty over the outcome of a vote on Scottish independence due
to take place later this month continued to weigh on sterling.
USD/CHF edged 0.12% lower to 0.9306, pulling away from
one-year highs. USD/JPY retreated 0.42%, off six-year highs,
AUD/USD rose 0.33% to trade at 0.9379, while
NZD/USD added 0.288% to 0.8329. USD/CAD edged up 0.12% to
1.0887, after official data showed that the number of employed
people in Canada declined by 11,000 last month, confounding
expectations for an increase of 10,000.
The report also showed that Canada's unemployment rate remained
unchanged at 7.0% in August, in line with expectations.
Separately, Canada's Ivey purchasing managers' index ticked down
to 50.9 last month, from a reading of 54.1, compared to
expectations for a rise to 55.0.
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, slipped
0.12% to 83.71, still close to the session high of 83.96, the
highest level since July 2013.
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