Dollar Off Recent Lows Against European Majors; US Jobs Data In Focus

Dollar Off Recent Lows Against European Majors; US Jobs Data In Focus




The U.S. dollar that eased against its European counterparts in late Asian deals on Friday rebounded in early European trading as investors focus on the U.S. jobs data due later in the day though most financial markets are closed for Good Friday.
The Labor Department is scheduled to release its monthly non-farm payroll report at 8:30 am ET. Economists expect non-farm payrolls for March to increase by 201,000 and the unemployment rate to remain unchanged at 8.3 percent.
According to a report released by payroll processor Automatic Data Processing, Inc. (ADP) on Wednesday, employment in the U.S. private sector saw continued growth in the month of March, with the job growth coming roughly in line with economist estimates.
ADP said employment increased by 209,000 jobs in March following an upwardly revised increase of 230,000 jobs in February. Economists had expected an increase of about 208,000 jobs compared to the addition of 216,000 jobs originally reported for the previous month.
The dollar is now worth 0.9202 against the franc and 1.3064 against the euro, compared to lows of 0.9190 and 1.3079, hit respectively at 2:15 am ET.
Against the pound, the dollar that hit a low of 1.5869 at 1:10 am ET is presently trading at 1.5850.
The dollar also gained slightly against the yen, with the pair now trading at 82.42. This may be compared to Thursday's close of 82.33.


More FOREX-news on pages InstaForex.Com