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Employment Figures In U.S. Fuelling Uptick In The Greenback

Published 2017-08-07, 08:49 a/m
Updated 2017-05-14, 06:45 a/m

The excellent employment figures released on Friday in the U.S. fuelled the U.S. dollar, which closed the week on an encouraging note. In addition to higher-than-expected job creation, the report showed a stronger-than expected rise in salaries, making it more likely that the U.S. Federal Reserve will increase the key rate again this year. The futures market is pricing the likelihood of at least one more key rate hike in 2017 at 44.8%.

Companies that export to the United States should take advantage of this rebound to review the level of their orders in order to benefit from a potential surge close to the 1.3000 level.

No major economic indicators are on the calendar today with most of the country enjoying a civic holiday. We are keeping an eye on WTI crude oil, which is trading just below $50 a barrel in New York, down nearly 1%. The loonie is down against the greenback this morning, while the euro is gaining ground.

Emmanuel Tessier-Fleury

Range of the day: 1.2630 – 1.2720

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