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The dollar stayed down versus the majority of its major counterparts as traders contemplated whether the U.S. economy is stable enough for the Federal Reserve to decide as early as next week to begin trimming down stimulus.
The greenback exchanged in almost the worst level this month versus the euro before a report forecast to display U.S. unemployment claims rose. Demand for the dollar as a haven receded as the U.S. delayed a congressional vote on military action in Syria. The yen bolstered after Japan’s machinery orders stagnated. Australia’s dollar declined as employers surprisingly slash payrolls. The New Zealand Dollar advanced as the Reserve Bank signaled it may lift interest rates earlier than previously assumed.
U.S. Jobs
U.S. unemployment claims probably rose to 330,000 in the week ended Sept. 7, from 323,000 in the previous seven-day period, according to the median estimate of economists surveyed by Bloomberg News before today’s data.
Avert Strike
A Russian initiative to avert U.S. military strikes on Syria through a plan to eliminate the Bashar al-Assad regime’s chemical weapons faces a first test when U.S. Secretary of State John Kerry meets in Geneva today with his Russian counterpart, Sergei Lavrov.
Aussie Weakens
Australia’s dollar retreated versus all 16 major counterparts after the number of people employed in the country diminished by 10,800 last month, following a downwardly revised loss of 11,400 jobs in July, the statistics bureau said today in Sydney. Economists predicted a 10,000 increase in August.
New Zealand’s dollar strengthened versus all its major counterparts after the RBNZ forecast bank bill rates will be higher than previously estimated in the first half of 2014, indicating the central bank may raise benchmark borrowing costs within that period.
“The RBNZ’s Monetary Policy Statement this morning was more hawkish than we had expected,” Imre Speizer, a market strategist in Auckland at Westpac Banking Corp. (WBC), wrote in a note to clients. “The initial market reactions should persist throughout the day.”
The Aussie sag down 0.6 percent to 92.72 U.S. cents. The kiwi dollar bolstered 0.6 percent to 81.27 U.S. cents after reaching 81.51, the strongest since Aug. 19.
