- Ukrainian Hryvnia refreshes a 7-year low
- US dollar edges higher as risk appetite fades
- US Initial Jobless Claims fell
- Traders are eyeing the Non-farm payrolls data
The Ukrainian Hryvnia to US dollar (UAH/USD) exchange rate settled on Thursday down -0.07% at 0.03341, as the war in Ukraine diminishes the risk appetite of investors. At the time of writing, one US dollar buys 0.03341 Ukrainian Hryvnia, unchanged from yesterday.
In the US, weekly Jobless Claims fell by 18,000 to 215,000 for the last week of February, resuming the labor market recovery. The better than expected data along with dented risk appetite boosted the US dollar.
The dollar index, which gauges the greenback’s strength against a basket of major currencies, settled up +0.38% at 97.72.
More, the US ISM services PMI unexpectedly edged lower to 56.5 in February down from 59.9 in January which helped resuscitate expectation for a more aggressive Fed.
Non-Farm Payroll Data
Next, the US’s NFP data will weigh in on the currency exchange rate. The NFP report is expected to reveal a slowdown in the US labor market. The US economy is expected to only add 400,000 new jobs in February compared to 467,000 added jobs in January. At the same time, the unemployment rate is expected to ease down to 3.9% down from 4.0%.
An upside surprise in wedge growth and payrolls numbers will embolden the Fed to act on its tightening process more aggressively than expected.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
