Quotations dollar under the influence of labor market data in the US – Onet.pl

Ok. 17.25 hours for the US currency had to pay 3.69 zł, 4.06 zł per euro, the Swiss franc and a 3.89 zł.

By Kiepas this is not the end of the depreciation of the dollar. As pointed out on Friday was published monthly series of labor market data in the US. In March, the unemployment rate, according to the market consensus, remained at 5.5 percent. “This is the best result since May 2008. However, the mood soured investors simultaneously published data on changes in employment in the US non-farm sector. In March, it rose only 126 thous., Which is almost half less than economists assumed (244 thous.). In addition, the February figures yet been revised downwards by 31 thousand. ” – He said.

In his view, the March increase in jobs at the level of 126 thousand. in itself is not bad. “In comparison with forecasts, especially in comparison to how much in the minds of investors, these data are related to expectations about the timing of the first rate increase by the US, obviously they had to trigger strong emotions. I caused, mainly on the market rate. The prospect of offset increases in interest rates in the United States has become the impetus for depreciation of the dollar, both the major currencies and gold. And it is a significant price reductions. Rate USD / PLN, which is just before the publication of data zł tested the 3.7342 level, fell after Data to 3.6774 zł. The US currency was not so cheap since February 26. Recall that back in mid-March, the dollar tried to attack the psychological level 4 zł “- noted Kiepas.

The analyst pointed out that disappointing report on the US labor market will certainly have a negative influence on the price of the dollar in the next week. “It should be recognized that after the holidays also in relation to the gold will lose value. Especially that the weak dollar is not the only factor that can push down the USD / PLN. Invariably, this factor is still the end of the cycle of interest rate cuts by the Monetary Policy Council , the expected acceleration of economic growth in Poland in the coming quarters, as well as the inflow of capital into Polish in connection with the QE program run by the European Central Bank (ECB) “- he pointed out.

Also, FX dealer with BPH Andrzej Krzeminski estimated that the US labor market had an impact on the price of the dollar. “The data proved to be a negative surprise, the reading is much weaker than expectations. This publication has caused the dollar sell-off. USD loses both the euro and the Polish zloty. A pair USD / PLN moved approx. 4 gr. A pair of euro-gold is slightly lower by 1 penny suddenly, so that movement can skip the analysis of the situation, “- he said.