The Vietnamese dong, Mexican peso, Indian rupee, and Nigerian naira ended relatively flat this week. These currencies are the home currencies of the Atlanta area’s largest immigrant groups. The dong closed .0007%. The naira was down .0003%. The rupee and peso were down .0019% and .0018%, respectively.
The Federal Reserve may have seen today’s jobs situation report as incentive to stay on course with its expected fed funds rate increases later this spring or summer. The unemployment rate fell to 3.9% with non-farm payrolls increasing by 199,000 workers. Historically, numbers like these are an indication of full employment and could be a threshold to wage inflation and a sign of increased economic activity. Increased economic activity may see the dollar become more expensive along with an increase in demand for dollar denominated assets.
The Federal Reserve was quiet today with no statements made by any members of the Board of Governors; likely the silent hangover from the holidays.
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Disclaimer: The above is provided for informational purposes and should not be construed as financial or legal advice or as creating an agreement to provide financial or legal advice.
Alton Drew 