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Dollar rising amid announcements by Kudlo and Jerome Powell

2019-07-09 03:21 pm | Resource: News | No Views : 114

 Dollar is rising amid announcements by Kudlo and Jerome Powell on Tuesday

Dollar  continued to rise during Tuesday's trading as traders followed a number of data, including the statements of Kudlo and the testimony of Jerome Powell to Congress as well as US employment data

Jobs in the United States fell to 7.3 million in May

On the data front, job opportunities in the United States continued to drop to 7.3 million in May, the Bureau of Labor Statistics said Tuesday. The Job Vacancy Survey (JOLTS) said that the number of employees in the fifth month of the year was 5.7 million while the employment rate was 3.8%. In addition, the number of separations fell slightly to 5.5 million in May. The rate of quitting, layoffs and discharge rate did not change at 2.3% and 1.2%, respectively.

Kudlo other currencies may be managed unfairly

Meanwhile, chief trade adviser Larry Kudlow said Tuesday in Washington, DC, that US President Donald Trump had "special concern" over currency manipulation by other countries. The question raised whether their assessments were "at odds with some models."

He stressed that many countries "have policies to follow" by design, at least in theory, may grant them an illegal advantage. The dollar should be stable, reliable and reliable because it helps inflows, the White House official said. He referred to data calling for the G20 to stabilize currencies and coordinate.

The question is not whether the US currency is too high, but if other currencies are deliberately reduced and managed unfairly, Kudlo confirmed and hinted at the euro, the yuan and the Japanese yen.

Powell: Stress tests must keep pace with risks

The stress test is the "cornerstone" of Fed supervision and the task of maintaining financial stability, Jerome Powell's chairman said on Tuesday. In a speech recorded before the opening of a conference in Boston on this issue, he expressed admiration for the results in the past 10 years and praised the "critical function" of the system, but also stressed that "the process" must "evolve". The chief supervisor said the central bank and economic policymakers helped restore confidence and stabilize the banks.

Major currencies trading
  • The dollar index, which tracks the performance of the greenback against a number of major currencies, rose 0.09% to settle at 97.44 points.
  • The euro fell very slightly against the dollar as the euro traded at 1.1209.
  • GBP / USD fell 0.35% to trade at $ 1.2470.
  • The greenback rallied against the yen, which represents a safe haven to settle at 108.75.
  • The greenback rose against the Canadian currency at 1.3126.


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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

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