The US dollar traded lower against major currencies on Friday due to weak employment and housing data. In addition, the technology sector continued to be affected until the sale of large-scale stocks added to the pressure on the US dollar.
The US dollar index, which measures the greenback dollar against six major currencies, declined to 92.873 as of 11.55 p.m.
Employment data, released on Thursday, showed that early unemployment claims were lower than expected. At the same time, data from the housing market showed that part of the economy grew slowly after three months showing a very strong recovery.
On the other hand, the Federal Reserve has promised to keep rates close to zero by at least by the end of 2023, but the central bank is asking for more financial assistance from Congress, which so far seems quite impossible.
The Canadian dollar recorded a depreciation against the US dollar with a decline of 0.10%. USD / CAD traded at 1.3178 as of 12.00 a.m.
Canadian retail sales recorded an increase of 0.6% in July, the highest increase recorded before the outbreak of the Covid-19 outbreak. However, following inflation data falling by 0.1% in August has hampered the strengthening of the Canadian dollar.
The market focus is now on trade issues between the UK and the European Union.
