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The US dollar is growing, but it moved away from its peak before the release of the US Labor Statistics

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The US dollar is growing, but it moved away from its peak before the release of the US Labor Statistics

The US dollar is growing, but it moved away from its peak before the release of the US Labor Statistics
August 08
10:30 2016

On Tuesday the US dollar shows a positive trend, but in fact it  “ has stopped” as investors are waiting for the release of the US Labor Statistics in order to see if it can make an aggressive rhetoric of the Federal Reserve representatives much stronger.

At the beginning of the day the index of the US currency against the basket of six other currencies has gained 0.15 percent- to 95.725. But, nevertheless, from 12 August it has been below the maximum peak of the last session –  95.834.

According to the averaged forecast of experts interviewed by Reuters, a report on the US employment, which is going to be released on Friday, will show that the number of jobs has increased by 180,000 this month. This is significantly lower than it was expected in June and July (an increase of 292.000 and 255.000 respectively).

“It is difficult to make steps until we get the data on the employment. It  became difficult after Stanley Fischer, the Vice Chairman of the Federal Reserve System of the USA, stressed that in August the report would be a key factor and that a rate increase could follow good indicators”, – said Kumiko Ishikawa from Gaitame.Com Research Institute.

According to the yesterday’s data, consumer spending in the US has been growing for the fourth month in a row. This indicates that the economic growth rates are increasing, and this is a favorable condition for the Fed to increase rates later in 2016.

The euro has risen by 0.03 percent against the yen- to 114.05 yen and it has dropped by 0.15 percent against the dollar -to $ 1.1171.

The dollar has risen by 0.2 percent against the yen -to 102.10 yen.

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