U.S. Dollar Higher Against Majors
December 04 2023 - 6:18AM
RTTF2
The U.S. dollar advanced against its major counterparts in the
European session on Monday, as investors awaited a slew of key
economic data, including non-farm payrolls, for more clues on
interest rate outlook.
Treasury yields rose as investors digested Friday's comments
from Federal Reserve chief Jerome Powell pushing back on rate-cut
bets.
Investors looked ahead to Friday's jobs data, which is expected
to show an addition of 180,000 jobs in November, up from 150,000 in
October.
Reports on service sector activity, private sector jobs, weekly
jobless claims and consumer sentiment will also be released this
week.
Data from the Commerce Department showed that U.S. factory
orders pulled back much more than expected in October.
The Commerce Department said factory orders plunged by 3.6
percent in October after jumping by a downwardly revised 2.3
percent in September.
The greenback was trading at 0.8737 against the franc and 146.93
against the yen, rebounding from an early more than 4-month low of
0.8666 and near a 3-month low of 146.22, respectively. The
greenback is seen finding resistance around 0.92 against the franc
and 151.00 against the yen.
The greenback touched 1.0819 against the euro, its highest level
since November 14. If the currency rises further, it may locate
resistance around the 1.04 level.
The greenback rose to 1.2611 against the pound, from an early
5-day low of 1.2724. On the upside, 1.23 is likely seen as its next
resistance level.
The greenback firmed to 1.3562 against the loonie, 0.6621
against the aussie and 0.6163 against the kiwi, reversing from an
early more than 2-month low of 1.3479 and more than 4-month lows of
0.6690 and 0.6222, respectively. The currency is poised to find
resistance around 1.40 against the loonie, 0.63 against the aussie
and 0.59 against the kiwi.
US Dollar vs CAD (FX:USDCAD)
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US Dollar vs CAD (FX:USDCAD)
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