London (AWP/AFP) – The dollar increases its losses on Friday on profits, despite data showing that the US labor market was not as much affected by the trade war in April as the analysts feared.
Around 2:25 p.m. GMT (4:25 p.m. in Paris), the greenback lost 0.66% against the euro, at 1.1365 dollars, and abandoned 0.26% in the book, to 1.3313 dollars.
According to official data published Friday, 177,000 jobs were created last month in the United States, less in March (185,000, revised downward figure), but more than the 138,000 anticipated by market consensus.
The unemployment rate remained stable in April in the United States, 4.2%, as expected.
This is the first report on US employment “to cover the period since the +day of the release +”, on April 2, when Donald Trump announced massive customs surcharge, “and one of the first reliable data points available”, underline the economists of Deutsche Bank.
A report deemed “honorable” by Kathleen Brooks, from XTB, interviewed by AFP. For the analyst, the dollar withdrawal is rather explained by “profits” because it has come back “too high and too fast this week”.
Between the fence of the session on Monday, and the opening of that of Friday, the dollar increased by 1.15% against the euro, and by 2.38% compared to the Japanese Yen.
The losses of the greenback recorded on Friday is “following three consecutive increases sessions, fueled by the hope of appeasement of trade tensions between the United States and China,” Ricardo Evangelista, analyst at Activtrades, told AFP.
Beijing announced on Friday to assess a proposal for negotiations emanating from Washington regarding the exorbitant customs duties imposed by the two countries.
The United States has imposed a surcharge of 145% on many Chinese products since April. China reacted by drawing customs duties of 125% on American imports.
Donald Trump said on Wednesday that there was a “chances” that Beijing and Washington come to an agreement.
“However, the risks persist”, and do not allow at this stage “a stable and lasting rebound in the dollar”, details Ipek Ozkardeskaya, analyst of Swissquote Bank, questioned by AFP.
Cours de vendredi Cours de jeudi 14H25 GMT 21H00 GMT EUR/USD 1,1365 1,1290 EUR/JPY 163,70 164,18 EUR/CHF 0,9370 0,9365 EUR/GBP 0,8536 0,8504 USD/JPY 144,04 145,39 USD/CHF 0,8245 0,8297 GBP/USD 1,3313 1,3278
AFP/Rp
