FOREX-US dollar drifts higher; traders consider non-farm wages


Band Gertrude Chavez-Dreyfuss

NEW YORK, December 2 (Reuters)The dollar edged higher on Thursday in choppy trading as risk appetite improved with the rise in US stocks, although investors remained concerned about the rapidly spreading variant of the Omicron coronavirus and the speed at which the US Federal Reserve will reduce its asset purchases.

United States currency movements were limit although, as investors eagerly awaited Friday’s non-farm payroll report for November.

“A really strong payroll report, as we anticipate, could be another piece to reassert the dollar,” said Mazen Issa, senior currency strategist at TD Securities in New York.

Wall Street economists estimated that the US economy created 550,000 new jobs last month, according to a Reuters poll.

In afternoon trading, the dollar index, which tracks the greenback against six major currencies, rose 0.1% to 96.131. = USD.

The index fell last week after Omicron’s announcement, although it remains near a 16-month high of 96.938 reached last month.

Thursday the The United States has registered its second case of the Omicron variant, but it had a moderate impact on stocks and other risky assets.

“Anecdotal evidence seems to suggest it may not be as bad as a lot of people feared,” TD’s Issa said.

“If there’s something to take away from all of this, it’s that the impact of successive waves of the virus tends to get smaller and smaller the longer it lasts. Yes, it’s still a risk. , but vaccine makers are able to adapt to cope, “he added.

The The United States and Germany on Thursday joined countries around the world with stricter COVID-19 restrictions.

The dollar rose 0.4% against the yen to 113.155 JPY = EBS.

The the greenback won earlier after US data showing initial state unemployment benefit claims Pink 28,000 to one seasonally adjusted 222,000 for the week ended November 27, lower than the forecast of 240,000.

The pound, meanwhile, rose 0.2% to $ 1.3298. GBP = D3, while the euro slipped 0.2% to $ 1.1294 EUR = EBS.

Scotiabank, in a search remark, highlighted the euro’s allure as a “semi-safe-haven currency”. SSince the Omicron story broke last week, the euro has gained 0.9% against the dollar.

However, Scotland waits the euro is weakening towards the $ 1.10 / 11 zone given the weakness of economic fundamentals and short-term rates, even if the uncertainty of the virus is expected to keep it in the $ 1.12 to $ 1.14 range for now.

Currency volatility trackers remain at multi-month highs, suggesting big moves could still be in store, analysts noted.

Traders are also awaiting clarification on how quickly the Fed will cut back on asset purchases, as central banks around the world grapple with how to lift stimulus in the face of soaring inflation.

Fed Chairman Jerome Powell reiterated in testimony to Congress on Wednesday that he and his fellow policymakers would consider faster action at their December 14-15 meeting.

SSeveral Fed officials – Atlanta Fed Chairman Raphael Bostic, Richmond Fed Chairman Thomas Barkin and San Francisco Fed Chairman Mary Daly – echoed Powell’s comments on Thursday.

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Currency bid prices at 3:09 p.m. (2009 GMT)

The description

RIC

Last

US Close previous session

PCT change

Percentage change for the current year

High offer

Low offer

Dollar index

= USD

96.1240

96.0460

+ 0.09%

6.827%

+96.1760

+95.8240

Euro dollar

EUR = EBS

$ 1.1299

$ 1.1319

-0.18%

-7.52%

+1,1347 $

+1,1295 $

Dollar / Yen

JPY = EBS

113.1500

112.7600

+ 0.36%

+ 9.52%

+113.3200

+112.6300

Euro / yen

EURJPY =

127.84

127.64

+ 0.16%

+ 0.72%

+128.2200

+127.6500

Dollar / Switzerland

CHF = EBS

0.9208

0.9205

+ 0.04%

+ 4.09%

+0.9221

+0.9180

Pound sterling / dollar

GBP = D3

$ 1.3299

$ 1.3275

+ 0.19%

-2.65%

+ $ 1.3333

+1.3268 $

Canadian dollar

CAD = D3

1.2808

1.2822

-0.11%

+ 0.59%

+1.2837

+1.2779

Australia / Dollar

AUD = D3

$ 0.7091

$ 0.7108

-0.23%

-7.81%

+ $ 0.7120

+ $ 0.7084

Euro / Switzerland

EURCHF =

1.0405

1.0416

-0.11%

-3.72%

+1.0436

+1.0402

Euro / Pound

EURGBP =

0.8494

0.8523

-0.34%

-4.96%

+0.8529

+0.8490

New Zealand dollar / Dollar

NZD = D3

$ 0.6810

$ 0.6808

+ 0.02%

-5.18%

+ $ 0.6831

+ $ 0.6799

Dollar / Norway

NOK = D3

9.0960

9.1060

+ 0.02%

+ 6.06%

+9.1140

+9.0590

Euro / Norway

EURNOK =

10.2784

10.2819

-0.03%

-1.80%

+10.3296

+10.2510

Dollar / Sweden

SEK =

9.0463

9.0795

-0.55%

+ 10.37%

+9.0944

+9.0269

Euro / Sweden

EURSEK =

10.2219

10.2784

-0.55%

+1.44%

+10.2937

+10.2194

Global exchange rateshttps://tmsnrt.rs/2RBWI5E

(Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Iain Withers in London; Editing by Emelia Sithole-Matarise, Nick Macfie, Andrea Ricci and Dan Grebler)

(([email protected]; 646-301-4124; Reuters messaging: [email protected]))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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