CANBERA (dpa-AFX) - The U.S. dollar advanced against its major counterparts in the New York session on Friday, as hot jobs data for January diminished likelihood of an early rate cut by the Federal Reserve.
Data from the Labor Department showed that non-farm payroll employment spiked by 353,000 jobs in January compared to economist estimates for an increase of about 180,000 jobs.
Job growth in November and December was also upwardly revised to 182,000 jobs and 333,000 jobs, respectively, reflecting a net upward revision of 126,000 jobs.
The unemployment rate in January came in unchanged from the previous month at 3.7 percent. Economists had expected the unemployment rate to inch up to 3.8 percent.
Strong jobs data added to concerns about the outlook for interest rates after the Federal Reserve signaled on Wednesday that it is unlikely to cut rates in March.
Treasury yields jumped, with the yield on the benchmark ten-year note touching 4.008 percent.
The greenback climbed to 1.0791 against the euro, from an 8-day low of 1.0897 seen at 4:30 am ET. The pair was worth 1.0871 when it closed deals on Thursday. If the greenback rises further, it may locate resistance around the 1.06 level.
The greenback advanced to 1.2651 against the pound, from a 9-day low of 1.2772 it touched at 5:00 am ET. The pound-greenback pair had ended yesterday's trading session at 1.2743. The greenback is seen finding resistance around the 1.24 level.
The greenback edged up to 0.8644 against the franc, from a 2-day low of 0.8553 hit at 6:30 am ET. At yesterday's trading close, the pair was quoted at 0.8577. The currency is likely to challenge resistance around the 0.90 level.
The greenback was up against the yen, at a 4-day high of 148.05. The pair had closed Thursday's deals at 146.41. The greenback may test resistance around the 151.5 region, should it rallies again.
Reversing from a 2-day low of 0.6160 seen at 5:15 am ET, the greenback rose to 0.6083 against the kiwi. At Thursday's close, the pair was valued at 0.6144. On the upside, 0.59 is possibly seen as the next resistance level.
After falling to a 2-day low of 0.6610 at 8:00 am ET, the greenback moved up to 0.6522 against the aussie. The greenback was worth 0.6571 per aussie at Thursday's New York session close. Further uptrend may take the greenback to a resistance around the 0.63 area.
The greenback strengthened to 1.3466 against the loonie, rebounding from a 2-day low of 1.3365 seen at 5:00 am ET. The greenback was trading at 1.3385 against the loonie at yesterday's close. The currency is poised to challenge resistance around the 1.37 mark.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
