The dollar is in a strong position after Draghi’s comments
The US currency is stable during the Asian trading session on Friday, focusing on the weekly growth against the basket of major currencies. Meanwhile, the euro is fluctuating around the seven-month lowest level – due to the fact that the ECB has failed to minimize the program of buying assets.
The US Dollar Index, which tracks the dynamics of the American currency against six major currencies, has increased by 0.2 percent and amounted to 98.506 points at the beginning of the day. In general, the index has risen by 0.5 percent for the week.
The euro has declined by 0.28 percent, amounting to $ 1.0898; obviously, it is going to finish the week with the fall by 0.6 percent. On the eve the dollar fell to the mark of $ 1.0891 (the lowest level since March 10).
The day before the ECB left interest rates unchanged. In addition, the controller retained the key parameters of the program of buying assets for 1.74 trillion euros ($ 1.95 trillion).The bank is going to revive the growth and inflation via them.
The senior currency analyst at a research institute in Tokyo Gaitame. Com Kumiko Ishikawa said, “Draghi didn’t say unequivocally about the additional stimulus in December; so even though the sales of the euro have begun, the European currency can’t fall for a long time. ”The information from the United States, which was published the day before, testified the growth of sales of secondary housing in September after they had been falling for two months.
According to the US Ministry of Labor, the number of applications for unemployment benefits over last week has risen to 260,000, while experts predicted an increase to 250,000. Judging from this, it is possible to make the assumption that the labor market remains valid.
The US dollar has fallen by 0.03 percent against the yen, reaching 103.92 yen. The American currency has lost 0.1 percent for a week.
The pound sterling has fallen by 0.12 percent, and amounted to $ 1.1232, going to finish the week with the growth by 0.4 percent.