US job data is disappointing dollar holders

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On Monday, the euro notes just opposite the dollar, which continues to falter after a weak job report last Friday. On Friday afternoon, only 266,000 jobs were added in the United States in April, with rising unemployment. As a result, the dollar fell in value, so that the euro is now around the highest levels in a long time.

On Monday, the coin was roughly unchanged at $ 1.2163.

A cyber attack over the weekend, which shut down an American oil pipeline, did not yet lead to a flow back to the dollar as a safe haven.

There are no significant economic figures on Monday. Wednesday follows a US inflation rate for April that is expected to increase from 2.6 to 3.6 per cent.

Last month, the dollar fell, after inflation was lower than expected. The pound sterling was stronger against the euro and the dollar on Monday, on reports that the chances of a new Scottish independence referendum have decreased and a confirmation of further easing of coronavirus measures on 17 May.

The Scottish National Party did not gain an absolute majority in last week’s election last weekend. The SNP is a strong supporter of Scottish independence. The Scottish leader Nicola Sturgeon did say this weekend that a new referendum on Scotland’s independence is not a question of if, but when.

The euro was lower than most other currencies, possibly influenced by reports of deals for more vaccines. In most euro area countries, around 20% of the adult population is now vaccinated against the virus.

About the author

Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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