The yuan traded in Hong Kong jumped the most in almost four months after a drop in U.S. stocks weakened the greenback.
The Standard & Poor’s 500 Index (SPX) closed at a seven-week low, while the Bloomberg Dollar Spot Index declined the most in two weeks today after rising the most since 2012 in September. U.S. employers added 215,000 jobs last month, compared with 142,000 in August, according to a Bloomberg survey before data due tomorrow.
“The market has realized there’s a risk of payrolls coming out a bit on the weak side because the market has priced in a strong number,” said Irene Cheung, a Singapore-based strategist at Australia & New Zealand Banking Group Ltd. “The dollar index is still strong but there’s some retracement, and the stock market continues to come off in the U.S.”
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015