The US economy added 160,000 jobs during April, much lower than 208,000 jobs recorded during the prior month.
The Indian rupee opened marginally higher by 2 paise at 66.52/$ against US Dollar on Monday as against the previous close of 66.54/$. On the global front, US economy added 160,000 jobs during April, much lower than the reading of 208,000 jobs during the prior month.
Unemployment remained steady at 5%. Nevertheless, positive part of the employment story is that the US economy has been able to create jobs for 74 months and there has been improvement in wages albeit moderate.
In Japan, minutes of the BOJ policy meeting in March revealed that policymakers acknowledge that although economy is recovering, there are signs of sharp weakness in consumer sentiment, which can adversely impact inflation numbers.
In China, exports during April (in Yuan terms) rose 4.1% on yoy basis, helped by currency weakness. However in US dollar terms, exports fell 1.8%. Meanwhile, imports in US dollar terms slumped 10.9% resulting in to a trade balance of $45.6bn.
On Friday, the Indian currency ended flat at 66.54/$. The local unit had hit a high of 66.73 and a low of 66.76. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.58 and for Euro stood at 76.38. The RBI’s reference rate for the Yen stood at 62.13; reference rate for the Great Britain Pound (GBP) stood at 96.3456.
Unemployment remained steady at 5%. Nevertheless, positive part of the employment story is that the US economy has been able to create jobs for 74 months and there has been improvement in wages albeit moderate.
In Japan, minutes of the BOJ policy meeting in March revealed that policymakers acknowledge that although economy is recovering, there are signs of sharp weakness in consumer sentiment, which can adversely impact inflation numbers.
In China, exports during April (in Yuan terms) rose 4.1% on yoy basis, helped by currency weakness. However in US dollar terms, exports fell 1.8%. Meanwhile, imports in US dollar terms slumped 10.9% resulting in to a trade balance of $45.6bn.
On Friday, the Indian currency ended flat at 66.54/$. The local unit had hit a high of 66.73 and a low of 66.76. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.58 and for Euro stood at 76.38. The RBI’s reference rate for the Yen stood at 62.13; reference rate for the Great Britain Pound (GBP) stood at 96.3456.
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