Dollar consolidates gains after strong jobs data
The dollar rose against most of the major currencies during trading on Friday, lifted by a strong monthly jobs report, which has beat market forecasts for last month.
The US Labor Department released its reading for the non-farm employment change index, as the economy has added around 1.8 million jobs in July, higher than forecasts of 1.530 million, and the unemployment rate fell to 10.2% vs. 11.1%.
US President Donald Trump issued executive orders on Thursday banning US transactions with Chinese applications WeChat and TikTok for 45 days.
Otherwise, the US government has reached multiple deals to buy hundreds of millions of coronavirus vaccines doses.
The dollar index rose against a basket of currencies by 0.7% to 93.4 points as of 19:03 GMT, after it hit a high of 93.4 and a low of 92.7.
Silver closes 3% lower, but scores nearly 14% weekly gain
Silver prices fell on Friday, as the US dollar fell against most of its counterparts, in addition to the release of a strong jobs report in the US.
The US Labor Department released its reading for the non-farm employment change index, as the economy has added around 1.8 million jobs in July, higher than forecasts of 1.530 million, and the unemployment rate fell to 10.2% vs. 11.1%.
The dollar index rose against a basket of currencies by 0.7% to 93.4 points as of 20:04 GMT, after it hit a high of 93.4 and a low of 92.7.
Silver September futures fell 3% or 86 cents, to close at $27,540 an ounce, but posted 13.7% gains this week, after hitting a day high of $29.915, and a low of $27.43.
Silver and gold prices have jumped together recently and saw strong gains amid the coronavirus crisis.
Dow Jones finishes higher, gains 4% this week
Most of the US stock indices rose on Friday, lifted by a strong monthly jobs report, and posted weekly gains, but Nasdaq took a pause and snapped its record-breaking rally.
The US Labor Department released its reading for the non-farm employment change index, as the economy has added around 1.8 million jobs in July, higher than forecasts of 1.530 million.
The jobs report also showed that the unemployment rate fell to 10.2% from 11.1%, beating forecasts of 10.5%.
US President Donald Trump issued executive orders on Thursday banning US transactions with Chinese applications WeChat and TikTok for 45 days.
To the oil market, West Texas Intermediate crude fell 1.7% to $41.22 a barrel, after it hit an intraday high of $42.2 and a low of $41.1.
Brent fell 1.5% to $44.40 a barrel, with a high of $45.3 and a low of $44.3.
As for stocks, Dow Jones rose 0.2% or 46 points to settle at 27,433, and scored monthly gains 3.8%, with a session-high of 27,456 and a low of 27,223.
S&P 500 rose 0.1% or 2 points to close at 3,351, with 1.7% weekly gains of 2.4%, and hit a high of 3,352 and a low of 3,328.
Nasdaq fell 0.8% or 97 points to 11,011, with weekly gains of 2.5%, a high of 11,126 and a low of 10,920.
Gold ends lower, but remains above $2,000 and posts weekly gains
Gold prices fell on Friday, as the US dollar rose against its major counterparts, but the yellow metal is still above the $2,000 barrier and posted weekly gains.
The US Labor Department released its reading for the non-farm employment change index, as the economy has added around 1.8 million jobs in July, higher than forecasts of 1.530 million, and the unemployment rate fell to 10.2% vs. 11.1%.
US President Donald Trump issued executive orders on Thursday banning US transactions with Chinese applications WeChat and TikTok for 45 days.
The dollar index rose against a basket of currencies by 0.7% to 93.4 points as of 18:08 GMT, after it hit a high of 93.4 and a low of 92.7.
Gold December futures fell 2% to close at $2,041.4 an ounce, and posted 2.2% weekly gains, after hitting a day high of $2,089.2 and a low of $2,024.8.