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U.S. Dollar: A week of strong increase

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The U.S. dollar climbed against most major peers last week. The EUR/USD pair fell to 1.0581 last week, the lowest level since March 10, after important U.S. economic data. The jobless rate unexpectedly sank to the lowest in almost a decade. The U.S. economy is gaining traction. Companies added 263,000 jobs in March, according to the latest ADP and Moody's Analytics private payrolls report. That was above the 185,000 expected from most economists.


According to the Governor Daniel Tarullo, the job growth at american companies provides a confirmation of a trend of strength in employment. The unemployment rate fell to 4.5 percent from 4.7 percent. The market isn’t worried about jobs picture at this moment, preferring to focus on the path of Fed tightening. The Fed meeting on interest rates will be on May 2-3. A major debate on Wall Street is whether the Fed increases rates two more or three more times in 2017.

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