US Dollar Rose After Data on Labor Market

Market Reviews

The US dollar strengthened, despite weak data on NFP employment. The Labor Department reported that the number of people employed in the non-agricultural sector fell by 33.000 last month. The unemployment rate in the US fell to 4.2%, from 4.4%, the lowest since December 2000. The average hourly earnings jumped 0.5% mom.

The British pound remains the weakest major currency for the week on the back of political uncertainty in the UK. The unemployment rate in Canada remained unchanged at 6.2%. Swiss foreign currency reserve hit record high of CHF 724B in September. German factory orders increased by 3.6% in August.