Forex

US Jobs Report Steadies Dollar Prices

US-Jobs-Report-Steadies-Dollar-Prices

The US dollar steadied itself in the initial session of the day after Sunday after the US job data exhibited the slowing down of the job growth in August. Meanwhile, traders are eagerly waiting for the meeting of the European Central Bank.

A report on Friday by the US labour department displayed that the employment growth of the US slipped further in August, while the losses of jobs surged significantly after the government funding started to dry. It cast concerns over the recovery of the economy and its sustainability. The rate of joblessness fell from 10.2% in July to 8.4 per cent.

Hatching the opportunity, the greenback pushed itself to the horizon of the week (93.242) compared to a basket of six major currencies on the account safe-haven investment. However, the gains retracted later on. Notably, the Forex market would remain subdued following the Labour Day holiday on Monday.

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