USD rose for a second straight day ahead of US jobs data

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USD rose on Thursday against a basket of global currencies to continue its gains for a second straight day as US currency purchases rebounded as the best alternative investment in high-risk markets and bolstered strong prospects for the Federal Reserve to raise interest rates this month for the fourth time in 2018. In order to reassess these possibilities, investors will be looking for important data on the US labor market later today, with new jobs in the US private sector in November, and other data on the services sector .

USD index rose 0.2% to the level of 97.16 points, where the opening level of trading today at 96.96 points, and the lowest level at 96.90 points.

USD rose 0.1% on Wednesday, supported by a bounce from a two-week low of 96.29 points recorded the previous day.


Canada has arrested Huawei’s financial director, facing the possibility of being deported to the United States on suspicion that the Chinese company has violated recent US sanctions against Iran, the Justice Department said on Wednesday.

The news would hinder the progress of US-China trade commissions as part of the truce announced on the sidelines of the G20 meeting in Argentina, which raised the risk again in the financial markets, which is currently reflected by the sharp decline in global stock market indices, US currency purchases as the best alternative investment.

Most likely, the Federal Reserve raises interest rates at this month’s meeting for the fourth time in 2018. In order to reassess these possibilities, investors are looking forward to important data on the US labor market this week, starting today with US private sector jobs in November November and tomorrow Friday jobs data in non-agricultural sectors and unemployment rate.

By 13:15 GMT, private sector jobs are expected to rise by 195,000 in November from 227,000 in October.

Other data on the services sector, with the final reading of the November Service PMI forecasting the same initial reading of 54.4 points, and the expected index of the Institute of Supply Services expected level of 59.1 points in November from 60.3 points in October.

 

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