The yen fell against the dollar significantly , responding thus to the U.S. employment data . As it became known , U.S. employers continued to add jobs at a steady pace , while the unemployment rate fell in November. These are signs of strong economic growth , which can stimulate discussion about what the Federal Reserve will announce the reduction of bond purchases this month .
The Labor Department said that the number of employees in non c / agricultural sector grew by 203,000 last month. In turn, the unemployment rate fell by three-tenths of a percentage point to 7.0% , the lowest level in the last five years. Economists forecast that employment in non-farm payrolls increased by 184,000 and the unemployment rate is at around 7.2%. The cumulative number of people employed in September and October was revised to 8000 .
This report may reinforce expectations that the Fed will soon slow down the pace of its bond purchases to $ 85 billion per month. At its meeting in October , officials said on the probable end of the program " in the coming months ." Fed program , which began in September 2012 , is designed to maintain long-term interest rates low in order to increase investment and stimulate hiring . Fed officials will hold their next meeting on December 17-18 .
The Canadian dollar fell against the dollar, while returning to the levels of the opening session , which was associated with the release of positive U.S. jobs data and consumer sentiment index , which could compensate for all the positive report from the Canadian unemployment . Note that the preliminary index of consumer sentiment from Thomson Reuters and the University of Michigan in December rose to 82.5 . In November, the index was at 75.1 . December's value was the highest since July. This is better than expectations of economists at around 76.2 , All the growth index is associated with households with incomes below $ 75,000 per year. In households with higher income mood compared to the previous month has not improved . Almost all the increase is attributed to improved economic outlook for the coming year .
We also add that an indicator of current economic conditions rose from 88.0 in November to 97.9 , higher than expectations of 90 , and the indicator of economic expectations rose from 66.8 to 72.7 , which is above expectations in 68 . Evaluation index of current economic conditions was the highest since July, and the index of economic expectations - in August. Expectations for inflation in the long term than one year increased from 2.9% to 3.0%. Expectations for inflation in the long term from 5 to 10 years decreased from 2.9 % to 2.8 %.