讀後心得

The US dollar rebounded in the New York foreign exchange market last Friday, mainly due to better-than-expected US non-farm payroll data and comments from Federal Reserve Chairman Jerome Powell. The dollar index rose by 0.93% to 103.023. The dollar showed an appreciation trend against the euro, yen, and Swiss franc. Although the impact of new tariffs has reduced the reference value of employment data, it still boosted investor sentiment. In March, US non-farm payrolls increased by 228,000, and the unemployment rate slightly rose to 4.2%. The market showed risk-averse sentiment after China announced an increase in tariffs on US goods.

In the New York foreign exchange market last Friday, the US dollar stopped its decline and began to rise against a basket of major currencies, partly recovering from the drop since the Trump administration announced reciprocal tariffs. The main reasons for this were that US non-farm payroll growth exceeded expectations, along with the latest comments from the Federal Reserve Chair. The Dollar Index, which tracks the dollar against six major currencies, rose 0.93% to 103.023.

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

The latest data showed that the US non-farm payrolls increased by 228,000 in March, surpassing the market expectation of 140,000. The unemployment rate slightly rose to 4.2%, while the non-farm payrolls for February were revised down from 151,000 to 117,000. Although the reference value of the employment data may have diminished due to last week’s comprehensive tariff actions, the strong employment report still provided a certain boost to investor sentiment before the weekend.

The Federal Reserve Chair emphasized that the economic impact of the new tariffs could far exceed expectations, and the Fed must ensure that more severe inflation issues are not triggered. With China announcing a 34% tariff on all US goods starting April 10, risk aversion in global markets has significantly increased.