Dollar rose alongside equities to end week. Reports of China stimulus boosted risk appetite sending equities higher for the fourth straight session. US jobs data beat expectations sending the dollar higher.
July 8, 2022
EUR/USD 1.0157 GBP/USD 1.2003 USD/CAD 1.2969 AUD/USD 0.6844 USD/JPY 136.34 USD/CNH 6.6942 USD/ILS 3.4713 USD/MXN 20.3999 USD/CHF 0.9771 USD/INR 79.24 USD/BRL 5.3160 USD/SGD 1.4001 USD/DKK 7.3289 USD/SEK 10.5099 USD/NOK 7.3298
USDDollar went higher following US data: Nonfarm payrolls beat as payrolls rose 372K vs expectations of +265K; Unemployment, as expected, held at 3.6%. In focus are CPI numbers next week.GBP
Following PM Johnson’s resignation, sterling gained ground on hopes that new leadership will help restore stability in UK government.EUR
Euro continues to trend lower versus the dollar with parity in sight as traders bet on a recession spurred by inflation. The pair dipped below 1.01 and recovered briefly.CAD
June unemployment for Canada was mixed as headline unemployment fell 43.2K in June. Unemployment fell to 4.9%. USD/CAD was sent higher following the reports which came out at the same time.ASIA/PACIFIC
Former Prime Minister of Japan Shinzo Abe was assassinated at a campaign event. The haven yen firmed following the assassination, however US jobs data sets the pair higher as the US outperformed.
A report out of China suggested 1.5T yuan spending on infrastructure for the second half of 2022. This helped boost equities.
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