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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Greenback weakens after disappointing August jobs report

Sep 07, 2012 03:06 PM

Friday saw the value of the U.S. dollar tick downward against counterpart currencies after the U.S. Department of Labor issued an underwhelming employment report for the month of August, according to Reuters.

Despite expectations for 125,000 new jobs created, payrolls grew by only 96,000 last month. That augmented speculation that the U.S. Federal Reserve is more likely to implement a third round of asset purchases to spur the globe's largest economic system, which reduces the value of the monetary unit.

The Associated Press reports deputy chief economist Beata Caranci with TD Economics said the weaker jobs report provides the perfect "ammunition" for the U.S. Federal Reserve to move forward with that third round of purchasing debt. She also said that job hunting in the weeks and months anon is likely to be daunting.

Though the job-creation figure was disappointing, the unemployment rate in the U.S. fell from 8.3 percent in July to 8.1 percent in August.

The underemployment rate, a gauge that includes job hunters who have ceased looking for work, dropped to 14.7 percent in August from 15 percent in July, according to The Associated Press.

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