US-dollar rate starts to grow

Baku. 4 August. REPORT.AZ/ Dollar exchange rate is strengthening in the global currency markets. 

Report informs, the reason is a number of economic indicators released today in the United States have surpassed expectations. Thus, excluding the agricultural sector, employment rate in the US has increased by 209,000 compared to the 183,000 growth forecast. As a result, the July unemployment rate in US has updated minimum of 16 years and amounted to 4.3%. Notably, unemployment in May made up 4.3%, but in June this rate rose to 4.4%.

Also, according to the indicator released today, monthly wages have increased by 0.3% in parallel to expectations. In addition, the trade balance deficit in June amounted to $ 43.6 bln in comparison with the $ 45 bln forecast.

The positive indications have led to the strengthening of the dollar. The main currency pair, USD/EUR, has dropped to 1.1830 from 1.1888.

Analytical Group of Report expects US-dollar to appreciate and reach 1,17 level. But in coming 1 year, the dollar is expected to rise to an average of 1.15 euros. In the long term, the US dollar will continue to rise in the background of increasing US Federal Reserve System (Fed).