Non Farm Payrolls Data &Nbsp; &Nbsp; Dollar Exchange Rate Plunged More Than 1% On Friday

On Friday morning, Beijing time, on Friday, the labor department released the report on non farm employment in November. Far less than the market expected employment growth has triggered the market's concern about the health of economic growth. The dollar fell sharply and pushed the euro to the US dollar for the first time since the end of November.

Before the announcement of non farm employment report US dollar exchange rate Has weakened, but after the report came out Decline Rapidly expanding. The US Labor Department reported that the number of non farm payrolls increased by 39 thousand in November, far below the 155 thousand growth expected by the market. In addition, another survey showed that the unemployment rate in November was 9.8%, which was higher than the 9.6% level in October, and also exceeded market expectations. Previous market surveys show that economists generally expect the unemployment rate to remain at a previous level in November.

RBC, a senior monetary strategist at capital markets, believes that " Bad employment report This is not a good market expectation: the Fed may be forced to take more measures ", which was once retired behind the launch of the new round of quantitative easing measures by the Federal Reserve in early November.

As of the end of the foreign exchange market, the US dollar index, which tracks six major currencies, dropped to 79.17 points, or 1.41%.

On the other hand, the US non farm employment report in November also helped the euro exchange rate rise. As the European Central Bank will continue to take more measures to support the expected support of the turbulent European financial market, the euro has continued to rise in the last three trading days. The report points out that although the ECB did not give details of any measures, the European Central Bank has always been one of the largest buyers of the euro bond market, and the target countries of the euro area include Portugal and other euro area countries.

In the report, David Watt pointed out that the eurozone issue "seems to be no longer a hot potato. The European Central Bank has been very active in buying Euro bonds."

The euro closed at $1.3383 on Friday, up 1.24%. The euro traded on the dollar for $1.3402 on Friday, the first time it broke through the $1.34 mark after November 22nd. The euro has risen by more than 1% against the dollar this week, while the US dollar against Japanese yen fell by more than 1% during the same period.

Brown Brothers Harriman Ltd analysts wrote on Friday's customer report that the employment data "completely disappointed the market", and the impact on the US dollar exchange rate is also quite negative. Taking into account the recent efforts of the European Central Bank to stabilize the euro bond market, the so-called "transition mechanism", the euro will undoubtedly end its downward trend throughout the November and begin to recover. The report stressed that "the fact that the real interest rate of the United States continues to decline has also dragged down the performance of the US dollar, not only for the euro, but also for all major currencies including the yen."

　 The US dollar against the yen fell to 82.92 yen on Friday, or 1.17%.

Analysts including Goldman Sachs Group economists have recently increased their expectations of domestic economic growth in the United States, and have repeatedly lowered the estimate of the amount of money that the Fed needs to inject into the economy. Among them, CRT Capital Group Treasury strategist pointed out in the report, "Bernanke probably does not need to worry too much about the prospect of the two round of quantitative easing this weekend." Quantitative easing is actually equivalent to printing money, which is unfavorable to the value of the US dollar.

In other major currencies, the pound gained 0.98% against the US dollar at 1.5745, while the Australian dollar closed at 99.09 cents, or 1.46%.