US Dollar Kept Its Positions

4 September, 2017

On Friday, September 01, weak statistics on the US labor market was published. In August, 156,000 jobs were created in the non-agricultural sector of the country. Market expectations were at the level of 180,000. The growth of average hourly wages slowed from 0.3% to 0.1%. The unemployment rate increased from 4.3% to 4.4%. Nevertheless, the US currency managed to hold positions relative to the "majors". Support was provided by positive data on the index of business activity in the manufacturing sector of the US from ISM. In August, the indicator increased by 4.4% to 58.8. The dollar index (#DX) closed the trading session in the positive zone (+0.15%).

The ECB meeting will be held this week. On Friday, Bloomberg news agency reported that the ECB could submit a plan to reduce the quantitative easing program not earlier than in December of this year.

In the Asian trading session, prices for "black gold" showed mixed results. At the moment, futures for the WTI crude oil are being traded near $47.5 per barrel.

Market Indicators

On Friday, the major US stock indices showed a variety of trends: #SPY (+0.14%), #DIA (+0.18%), #QQQ (-0.14%).

At the moment, the 10-year US government bonds yield is at the level of 2.16-2.17%.

News background on 2017.09.04:

Today, the news background is rather calm. At 11:30 (GMT+3:00) the index of business activity in the construction sector in the UK will be published.

The financial markets of the US and Canada are closed due to the holiday.

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