The U.S. dollar rose while the Japanese yen fell on Thursday following a positive private sectors job data.<\/p>\n
The\u00a0<\/span>U.S. Dollar Index<\/a><\/span>, which tracks the greenback against a basket of other currencies, last traded at 95.76 at 1:00AM ET (05:00 GMT), up 0.09%.<\/p>\n The ADP and Moody\u2019s Analytics revealed on Thursday that U.S. services and private payrolls increased by 230,000 in September. Economists had expected the ADP nonfarm payrolls report to show a gain of 187,000 jobs.<\/p>\n “A simple dynamic is playing out in the global economy right now – the U.S. is booming, while most of the rest of the world slows or even stagnates,” said HSBC economist Kevin Logan.<\/p>\n The yield on the United States 10-Year Treasuries rose to the highest level since 2011 on the positive data.<\/p>\n “The (ISM) index was significantly above the long-term average during periods of growth and consistent with the upside risks to growth,” said Kevin Cummins (NYSE:CMI<\/a><\/span>) (NYSE:CMI<\/a>), senior U.S. economist at NatWest Markets.<\/p>\n “At a minimum, these data suggest that labor demand remains very strong.”<\/p>\n Federal Reserve Chairman Jerome Powell said in a speech in Boston on Wednesday that the economic outlook was “remarkably positive” and that rates might rise above “neutral”, currently anywhere from 2.5 to 3%.<\/p>\n Elsewhere, the\u00a0<\/span>USD\/JPY<\/a><\/span>\u00a0<\/span>pair was down 0.12% at 114.41, while the\u00a0<\/span>Aussie<\/a><\/span>\u00a0<\/span>dollar and the\u00a0<\/span>Kiwi<\/a><\/span>\u00a0<\/span>both slid 0.3% against the dollar.<\/p>\n A report from Pacific Investment Management warned that Australia\u2019s housing slump raised the possibility of debt downgrades for local big banks.<\/p>\n \u201cWe have grown more cautious with the external credits of Australian banks,\u2019\u2019 Pimco analysts and portfolio managers led by Taosha Wang said in a note to clients. \u201cThe probability of a market-moving agency downgrade that causes major banks to lose their AA- rating for the first time in history is now higher than before.\u2019\u2019<\/p>\n","protected":false},"excerpt":{"rendered":" The U.S. dollar rose while the Japanese yen fell on Thursday following a positive private sectors job data. The\u00a0U.S. Dollar Index, which tracks the greenback against a basket of other currencies, last traded at 95.76 at 1:00AM ET (05:00 GMT), up 0.09%. The ADP and Moody\u2019s Analytics revealed on Thursday Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-998","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=998"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/998\/revisions"}],"predecessor-version":[{"id":999,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/998\/revisions\/999"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}