The US dollar index succeeded in rising above the strong 107 level for a few moments after the release of US job opportunities data, recording an increase of approximately 0.4% and trading at 107 against a basket of foreign currencies. The level of 107 is the highest level for the dollar since trading on November 22, 2022, that is, 11 months ago. The dollar index fell strongly after reaching the 107 resistance and fell to 106.757 now, losing many gains. The US dollar index continues to rise amid confirmation by the US Federal Reserve of further raising US interest rates above the current 5.5% levels. Several data, the most important of which were the ISM Purchasing Managers Index yesterday and the JOLTS Job Opportunities Index today, came to confirm the strength of the US economy, giving the Fed justification for monetary tightening. The US economy created approximately 9.610 million job opportunities, while experts expected 8.800 million job opportunities to be created in July. The previous reading was revised to 8.920 million opportunities. The US dollar occupied first place on the list of the highest-profitable currencies, recording gains of 2.85% against other foreign currencies in circulation, as the US dollar benefited from the strict z- statements of some policy makers in the US Federal Reserve Bank regarding interest rates.
No comments:
Post a Comment