Dollar Mixed After Jobs Data
May 04 2012 - 8:59AM
RTTF2
Friday, the U.S. dollar showed mixed trading against its major
counterparts after the release of jobs data for April.
Job creation in the U.S. economy was weaker than expected in
April although the unemployment rate fell slightly, according to
figures released Friday by the Labor Department.
The overall economy added 115,000 jobs in April, down from
revised data that showed March job creation at 154,000, notably
higher than the 120,000 initially reported.
The job creation numbers for April were also notably lower than
the predictions of most economists who had forecast 165,000 new
jobs for the month.
Despite the anemic job creation figures, the unemployment rate
ticked down to 8.1 percent in April from the 8.2 percent reported
in March
The greenback that touched a 3-day low of 79.85 against yen at
8.30 am ET recovered soon and the pair is now trading at 80.19.
Against the franc and the euro, the greenback that advanced to
0.9163 and 1.3116 at the same time pared gains soon thereafter. The
greenback is now trading at 0.9147 against the franc and 1.3143
versus the euro.
Against the pound, the dollar that reached a new 1-week high of
1.6157 eased shortly thereafter. As of now, the pair is trading at
1.6191, compared to Thursday's close of 1.6180.
At 10:00 am ET, Canada's Ivey PMI for April is due.
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