while the United States March payroll report stronger than expected, markets on United States economic performance more optimistic, but the New York Federal Reserve President Dudley (William Dudley) shortly after publication of the report made a rather cautious remarks, said although the improvement in the employment market is encouraging, but hinted that a second round of quantitative easing (QE2) will be implemented in full, and will not raise rates in the near future. Given the Fed's Dudley high decision-making positions, strong dollar index so jinshu into non-agricultural provides all of the gains.
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Yen exchange rate continuous sixth day go fell economic expected boost risk preference G20 Nanjing meeting does not on exchange rate Japan earthquake Hou investigation display economic status deterioration dollars fell fell over reverse predicted when cashed Greek Portuguese rating then was cut Europe debt situation tension AUD on dollars create 29 years high Japan the shouldn't spent reserves [RMB premium][market Center]Friday (on April 1) New York early disk period Dollar boosted by strong non-farm report, the index significantly higher under, hit a level of intraday high of 76.61, but quickly fell and thereafter refresh 75.82 levels intraday lows, major non-us also quickly reverse the previously disadvantaged, EUR/USD refreshing level of intraday highs 1.4213.
United States Department of Labor (DOL) published reports show that United States non-farm employment increased by 216,000 people March, its biggest increase since May 2010, expected increase of 190,000 people. Meanwhile, the United States in March, the unemployment rate continued to decline, down to 8.8% for the March 2009 low, expected to 8.9%. Transient jumped $ excellence in non-agricultural, however $ boom failed to get.
non-agricultural announced Hou soon, New York joint storage President Dudley, and Dallas joint storage President Fisher (Richard Fisher), and Richmond joint storage President Lake (Jeffrey Lacker), officials has published speech, although which part officials speech more tough, but given Fisher of Eagle sent argument and no too large new, Lake this year in fed open market Committee (FOMC) does not has vote right, and New York joint storage is is responsible for implementation second wheel quantitative loose policy of area joint storage, in all area joint storage in the has higher of status, the area joint storage President has permanent vote right, and Dudley recent does not published currency policy views, thus on market emotional produced has major of effect.
Dudley reiterated in his speech the Fed about " maintain a policy of low interest rates for a longer period of time " commitments the dollar bear a significant blow.
Dudley pointed out that United States economic recovery remained weak, from the Federal Reserve is a far from the objective of price stability and full employment, now is not the time to reverse monetary policy of the Federal Reserve. At the same time, post-crisis rehabilitation will take time, many areas are still very fragile and sluggish performance, weak housing market anomaly, the Middle East and Japan nuclear crisis impact or influence economic growth.
however, some market analysts still consider that the non-agricultural employment report very optimistic, and tightening of the Federal Reserve is expected to further warming.
Global macro Hunter securities and consumer strategist Richard Hastings said: " good labour market study to be released on Friday, the Fed is witnessing weak cycle towards the end of the job market. &Quot;
in addition, later this year, although he thinks the Fed will tighten policy initiatives he still doubt the Federal Reserve will lower commodity prices, or completely reversing the trend of the dollar and European currencies fell sharply. In his view, the currency markets suggest that the dollar will be stronger, but it is not so strong.
, Barclays Capital (Barclays Capital) analyst Jeff Young said: " I don't think the speech will reverse the dollar's rally in Dudley, his United States economic statement is actually of some positive elements. &Quot;
GFT Forex online foreign exchange dealer body currency Research Director Kathy Lien that: " the Federal Reserve are beginning to lay the foundation of an end to the monetary stimulus, and non-agricultural employment data we get from some of the wording of the Fed officials consistent tone of optimism, surprises will be risk of non-agricultural preference mood continued. &Quot;
the Standard Chartered Bank (Standard Chartered) Americas head of research David Mann said: " we expect time remaining jobs will further growth this year, this data will absolutely favourable dollar/Yen in the short term, there may be a positive impact on the dollar against the euro. "
