讀後心得

Last Friday, the U.S. dollar halted its decline against a basket of major currencies and partially recovered the losses caused by the Trump administration's announcement of retaliatory tariffs, primarily due to better-than-expected U.S. non-farm payroll data and comments from Federal Reserve Chairman Powell. The dollar index rose by 0.93%, reaching 103.023. The dollar strengthened against the euro, yen, and Swiss franc. In March, non-farm payrolls increased by 228,000, surpassing expectations, while the unemployment rate edged up to 4.2%. Despite the significant impact of the new tariffs, the employment data still boosted investor confidence. Powell pointed out that tariffs could have an unexpectedly large impact on the economy and that it is essential to avoid exacerbating inflation issues. China also announced that starting April 10, it would impose a 34% tariff on all U.S. goods, leading to increased risk aversion in global markets.

Last Friday, in the New York foreign exchange market, the dollar against a basket of major currencies stopped falling and rebounded, recovering some of the losses since the Trump administration announced reciprocal tariffs. Key factors include the U.S. non-farm payroll growth exceeding expectations and the latest comments from the Federal Reserve Chairman. The dollar index, which tracks the dollar against six major currencies, rose 0.93% to reach 103.023.

• The dollar rose by 0.0096 against the euro, reporting at 1.0956 dollars to 1 euro.
• The dollar increased by 0.87 yen, reporting at 1 dollar to 146.93 yen.
• The dollar appreciated by 0.0016 francs, reporting at 1 dollar to 0.8608 francs.
• The euro depreciated by 0.52 yen, reporting at 1 euro to 160.91 yen.
• The euro fell by 0.00639 francs, reporting at 1 euro to 0.94317 francs.
• The pound depreciated by 0.0213 dollars, reporting at 1 pound to 1.2887 dollars.
• The Canadian dollar depreciated by 0.0122 Canadian dollars, reporting at 1.4219 Canadian dollars to 1 dollar.

The latest data shows that the U.S. added 228,000 non-farm jobs in March, exceeding the market expectation of 140,000 jobs. At the same time, the unemployment rate rose slightly to 4.2%, while the February non-farm payroll number was revised down from 151,000 to 117,000. Although the reference value of the employment data has diminished considering last week's comprehensive tariff actions, the strong employment report still boosted investor sentiment before the weekend.

The Federal Reserve Chairman emphasized that the economic impact of the new tariffs could exceed expectations, and the Federal Reserve must ensure that it does not trigger more severe inflation problems. With China announcing a 34% tariff on all U.S. goods starting April 10, risk aversion in global markets has also increased.