FXstreet.com (Córdoba) - Wall Street rose moderately on Friday. The Dow Jones ended up 0.17% but posted sharp gains for the week, around 3%. Unemployment reaching the highest level in 26 years did not stop stocks. Dollar ended mixed across the board and the Yen higher.
U.S. non farm-payrolls have declined by 190,000 in October, somewhat above the 175,000 decline forecasted by the analysts, while the unemployment rate has risen 0.4% to 10.2%, the highest level in the last 26 years.
Peter Possing Andersen, Signe Roed-Frederiksen from the Danske Bank A/S affirms: Given our outlook for around 4% GDP growth in the current and the coming two quarters, we continue to expect payrolls to be back in positive territory around year-end. (…) We expect the kick-start to the economy to be enough to foster a further improvement in the labour market. A return to positive job growth will be crucial for consumers going forward.
Gold posted new historic high by rising above $1,100. On the opposite side crude oil fell sharply, lost weekly gains and ended below $78 a barrel.
The rise in gold boosted the Australian Dollar that jumped from 0.9090 to 0.9198, posting a one-week high. The Canadian Dollar affected by the decline in crude oil prices, fell for the second day in a row. USD/CAD ended the week above 1.0720.