Peso retreats vs. dollar ahead of US jobs data By SIEGFRID O. ALEGADO, GMA NewsOctober 21, 2013 6:01pm 368 12 0 387 Tags: currencies The peso weakened in light volume against the US dollar Monday as investors focused more on the release of key jobs data. The local currency lost 7 centavos to 43.14:$1 at the close of trading versus 43.07 Friday. Trading volume reached $366.6 million compared with $703.65 million. “Investors were on a wait-and-see mode on the non-farm numbers that will come out,” a trader said, noting why the volume Monday was nearly halved from previous trading. After US data was delayed due to a two-week partial shutdown of the federal government, Washington will release the closely watched non-farm and unemployment figures Tuesday. Non-farm payrolls is a measure of US jobs in any business, excluding farms, nonprofit organizations, private households and general government. In a separate interview, a second trader said light volume allowed demand from players to keep their foreign exchange positions long – which weighed on the peso. “The peso was well-bid on both sides, but demand for dollars were stronger after its losing streak on shutdown and default problems in the past two weeks,” the second trader said. A Reuters poll showed the US is forecast to have created 180,000 jobs last month, while the jobless rate is expected to remain steady at 7.3 percent. Data beyond expectations are likely to stoke speculations over the US Federal Reserve winding down its bond-purchasing stimulus this year or not, injecting some volatility in the currency market, the wire service said in a report.
Posted on: Mon, 21 Oct 2013 15:36:28 +0000
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