The numbers were lower than expected in October, but the bid between Kamala Harris and Donald Trump weighs more on investors.
He global dollar rebounded due to the uncertainty generated by Tuesday’s elections in USA, even though job growth slowed sharply in October in that country, amid disruptions from hurricanes and worker strikes.
He dollar index, which tracks the North American currency against six major currencies, rose 0.36% to 104.24. Meanwhile, the euro fell 0.40% against the dollar, to $1.084, while the pound sterling, Meanwhile, it rose 0.26% to $1.29632.
Employment data in the United States
Nonfarm payrolls increased by 12,000 jobs last month after increasing by 223,000 in September, the agency reported Friday. Department of Labor, Bureau of Labor Statistics. Economists polled by Reuters had forecast an increase of 113,000 jobs.
However, the rate of unemployment in the United States it remained stable at 4.1%, which offers guarantees that the labor market remains on a solid basis.
The electoral expectation
Beyond that, things depend in part on the outcome of Tuesday’s presidential election in the United States. Polls point to a very close race between Kamala Harris and Donald Trump, although investors have been betting that the Republican candidate could be president again.
“The dollar index has fully recovered since this morning’s data release, shifting the focus to the uncertainty surrounding the upcoming election,” he said. Uto Shinohara, senior investment strategist at Mesirow in Chicago.
He added: “Current polls continue to show the race as a tie, with a potential risk of delayed results, which will make next week a choppy week as the Federal Reserve (Fed) will meet a few days later.”
Source: Ambito
