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August 8, 2016

FXNet, US Labour added 255,000 jobs to economy & Commodity price down with Chinese data

Commodity Prices are lowering especially Metals. Affected by disappointing Chinese Trade Balance and Positive US Labor Data.

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This article is originally referred from FXNet Market News.

The Aussie held strong against the US dollar despite earlier losses while the US dollar continued its rally following data released on Friday.

AUD/USD was last seen at 0.7674.

The US Labour Department showed on Friday that the US Economy had added 255,000 jobs in July, much higher than expectations for a 180,000 increase. Unemployment rate was steady at 4.9 percent and average hourly earnings were 0.3 percent higher month on month.

The New Zealand dollar like the Australian dollar was affected by Chinese data, and it slipped against the US dollar, NZD/USD lost 0.39 percent on Monday trading at 0.7114, its lowest level since the 29th of July.

Chinese trade balance for July was at a surplus of 52.1 billion dollars, exports were 4.4 percent lower disappointing expectations for a 3.0 percent decrease, while imports were 12.5 percent lower much less than the expected 7.0 percent dip.

The US dollar Index which measures the greenback against a basket of six other major currencies was at 96.19, not far from Friday’s one week high of 96.50.

Original Source: FXNet Market News

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