🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Forex - Dollar Ticks Higher In Early Asia, Japan Wages Ahead

Published 10/05/2017, 05:28 PM
© Reuters.  Dollar gains in Asia
USD/JPY
-
AUD/USD
-
DX
-

Investing.com The dollar ticked higher against the yen in early Asia on Friday with wages data ahead in an otherwise thin data day.

USD/JPY changed hands at 112.83, up 0.02%, while AUD/USD traded at 0.7793, down 0.04%

Japan reports average cash earnings with a 0.5% gain expected. Markets are shut in South Korea and China.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 93.77, up 0.49%.

Overnight, the dollar extended gains and re-approached recent one-and-a-half month highs against other major currencies on Thursday, as a string of upbeat U.S. data added to optimism over the strength of the economy and amid fresh hopes for a December rate hike.

The greenback was boosted after the U.S. Department of Labor said initial jobless claims fell more than expected to 260,000 last week. Additional reports showed that the U.S. trade deficit narrowed in August, as exports climbed to a two-and-a-half year high, while factory orders increased more than analysts had projected.

The dollar was also strengthened after Philadelphia Federal Reserve Bank President Patrick Harker said on Thursday that he is still planning on one more rate hike this year and three next year.

"I still have three rate hikes in for next year, but again we will have to see how the dynamics play out," Harker said, speaking on the sidelines of a conference in Austin, Texas.

The euro weakened after the minutes of the European Central Bank's September meeting showed that members remain concerned over the volatility of the single currency and some suggested that the economy may still need substantial stimulus for a little longer period of time.

The single currency was already fragile after the regional government of Catalonia announced on Wednesday that they will declare independence from Spain on Monday, adding to tensions in the region.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.