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Dollar Slips Ahead of U.S. Jobs Report

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The dollar dipped slightly on Friday as investors awaited the monthly job report from the U.S. Labor Department. The report, expected early this morning, will give market players insight into whether the economy will bounce back after a disappointing second quarter.

The U.S. dollar remained flat against a basket of currencies this week after falling 2% last week. The greenback was hurt by a poor growth report, which was weaker than expected.

The dollar edged down 0.1% on Friday to 95.660 after touching a low of 95.003 earlier in the week.

The British pound, meanwhile, climbed 0.2% to $1.3137 after the Bank of England announced a larger-than-expected stimulus package.

Economists expect non-farm payrolls to have increased by 180,000 in July.

If the job report shows strong job growth, it may revive the case for the Federal Reserve to raise rates in the near future. Investors had largely dismissed the idea of the Fed raising rates before the year’s end in the wake of Britain’s vote to leave the European Union.

According to CMD FedWatch, markets are betting on a 32% chance of a rate hike before the year ends.

The payroll data is in particular focus on Friday because of the poor economic growth report released last week, which not only disappointed investors, but also repriced rate expectations.

Market players are now looking for signs of whether the world’s largest economy is really in a poor state, or if things will improve in the third quarter of the year.

The dollar slipped against the yen, falling 0.2% to 101.05, not far off of its three-week low of 100.68 on Tuesday.

In other currency news, the Swiss National Bank’s foreign exchange reserves climbed to a historic high in July. The data highlights the bank’s challenge of keeping a lid on gains in the Swiss franc. The news pushed the franc down 0.3% against the euro to 1.0859.

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Jacob Maslow
Online Marketing Consultant at Consultwebs
 Jacob Maslow offers clients effective digital marketing insights that enhance website visibility and improve SEO as an online marketing consultant at Consultwebs. His approach marries creativity to numbers to show significant ROI for marketing efforts. This Brooklyn native has spent years helping skilled professionals, including medical and legal professionals rank for relevant search terms.
Clients attain their marketing objectives with Maslow. He has helped boutique law practices in crowded markets rank No. 1 in Google ranking. His efforts doubled the revenue for Allergy Be Gone's non-Amazon sales to $4 million annually. SEO ranking and revenue growth are prioritized when Maslow consults with prospects and long-term clients. Maslow has over a decade of experience implementing SEO practices and running successful marketing campaigns.
In addition to working with clients in various fields, but often with those in legal, financial and medical areas, he is an author, offering his expertise to those seeking to improve their engagement with online audiences. Read what Maslow has to share with eager audiences on business.com and business2community.com, including recent articles: "4 Mistakes You Can Correct Today to Be a Social Media Superstar" and "6 Things SEO Can't Do for Your Business."
Maslow puts his connections to work for clients. He founded many news sites including: Forex Binary News; eThailand; Key Investing; Rapid News Network and StreetWise Journal. Jacob Maslow stays busy as owner of Legal Scoops, Daily Forex Report, Investing Alerts and bestportablechargerz. Feel free to seek his advice on Facebook, Quora and Slideshare or contact Jacob Maslow directly.
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 Jacob Maslow offers clients effective digital marketing insights that enhance website visibility and improve SEO as an online marketing consultant at Consultwebs. His approach marries creativity to numbers to show significant ROI for marketing efforts. This Brooklyn native has spent years helping skilled professionals, including medical and legal professionals rank for relevant search terms. Clients attain their marketing objectives with Maslow. He has helped boutique law practices in crowded markets rank No. 1 in Google ranking. His efforts doubled the revenue for Allergy Be Gone's non-Amazon sales to $4 million annually. SEO ranking and revenue growth are prioritized when Maslow consults with prospects and long-term clients. Maslow has over a decade of experience implementing SEO practices and running successful marketing campaigns. In addition to working with clients in various fields, but often with those in legal, financial and medical areas, he is an author, offering his expertise to those seeking to improve their engagement with online audiences. Read what Maslow has to share with eager audiences on business.com and business2community.com, including recent articles: "4 Mistakes You Can Correct Today to Be a Social Media Superstar" and "6 Things SEO Can't Do for Your Business." Maslow puts his connections to work for clients. He founded many news sites including: Forex Binary News; eThailand; Key Investing; Rapid News Network and StreetWise Journal. Jacob Maslow stays busy as owner of Legal Scoops, Daily Forex Report, Investing Alerts and bestportablechargerz. Feel free to seek his advice on Facebook, Quora and Slideshare or contact Jacob Maslow directly.

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