BR100 Increased By (0.36%)
BR30 Decreased By (-0.13%)
KSE100 Increased By (0.22%)
KSE30 Increased By (0.37%)
AGHA 6.68 Increased By ▲ 0.01 (0.15%)
BECO 4.37 No Change ▼ 0.00 (0%)
BML 57.32 Increased By ▲ 0.88 (1.56%)
BOP 30.35 Increased By ▲ 0.01 (0.03%)
CNERGY 13.12 Increased By ▲ 0.03 (0.23%)
CSIL 5.41 Increased By ▲ 0.05 (0.93%)
FCCL 52.79 Increased By ▲ 0.41 (0.78%)
FFL 14.72 Decreased By ▼ -0.02 (-0.14%)
FNEL 1.12 No Change ▼ 0.00 (0%)
KEL 6.09 No Change ▼ 0.00 (0%)
KOSM 5.73 Increased By ▲ 0.77 (15.52%)
LOTCHEM 26.46 Decreased By ▼ -0.89 (-3.25%)
MLCF 93.16 Increased By ▲ 0.41 (0.44%)
NBP 164.66 Decreased By ▼ -0.32 (-0.19%)
NCPL 55.66 Increased By ▲ 0.02 (0.04%)
NPL 61.16 Decreased By ▼ -0.10 (-0.16%)
OGDC 316.73 Decreased By ▼ -1.03 (-0.32%)
PACE 9.87 Decreased By ▼ -0.06 (-0.6%)
PAEL 35.63 Increased By ▲ 0.13 (0.37%)
PIBTL 14.68 Increased By ▲ 0.11 (0.75%)
PPL 226.91 Decreased By ▼ -0.88 (-0.39%)
PRL 93.02 Increased By ▲ 0.45 (0.49%)
PTC 60.26 Decreased By ▼ -0.37 (-0.61%)
SSGC 23.81 Increased By ▲ 0.01 (0.04%)
TBL 8.75 Increased By ▲ 0.07 (0.81%)
TELE 7.80 Increased By ▲ 0.02 (0.26%)
TPL 22.35 Increased By ▲ 0.12 (0.54%)
TPLP 12.97 Increased By ▲ 0.30 (2.37%)
TREET 22.16 Decreased By ▼ -0.38 (-1.69%)
TRG 56.56 Decreased By ▼ -1.24 (-2.15%)
Markets

Dollar holds firm ahead of jobs data

Published Updated

imageTOKYO: The dollar inched up against other major currencies in Asia on Friday as market players expected upcoming US jobs data would be solid.

The dollar was at 102.85 yen in midday Tokyo trade, compared with 102.80 yen in New York Thursday afternoon.

The euro stayed weak after data showed eurozone inflation slowed to 0.4 percent in July, its lowest level since late 2009 in the aftermath of the global financial crisis.

The common currency bought $1.3388 against $1.3390 in US trade while firming to 137.70 yen from 137.65 yen.

Investors were waiting for US payrolls data to be released later Friday.

Attention was especially high after the Federal Reserve's policy-setting board was quite dovish on the labour market after a meeting this week, National Australia Bank (NAB) said.

Jobs creation will have stayed solid in July even if some easing, NAB said, forecasting an increase of 230,000 in nonfarm payrolls after the 288,000 gain in June.

Strong jobs data could fuel speculation that Federal Reserve would raise its benchmark rate sooner than the earlier expected second half of 2015.

Capital Economics said Argentina's default was likely to have limited impact on other emerging markets and US nonfarm payrolls were set to rise.

"Most of the evidence suggests that labour market conditions remained strong in July," it said in a note, projecting non-farm payroll employment had increased by around 225,000 in July.

Comments

Comments are closed for this article.