Investing.com

Investing.com - The dollar turned mostly higher against the other major currencies on Friday, as upbeat U.S. employment data continued to support the greenback despite a disappointing U.S. trade balance report.



The dollar was steady against the euro, with EUR/USD up 0.07% to 1.3871.

The U.S. Bureau of Labor Statistics said the economy added 175,000 jobs in February, compared to expectations for a 149,000 increase. January''s figure was revised up to a 129,000 gain from a previously estimated 113,000 rise.



The U.S. private sector added 162,000 jobs last month, exceeding expectations for a 154,000 rise. January''s figure was revised up to a 145,000 increase from a previously estimated 142,000 gain.



The report also showed that the U.S. unemployment rate ticked up to 6.7% in February, from 6.6% the previous month. Analysts had expected the unemployment rate to remain unchanged last month.



Meanwhile, data also showed that the U.S. trade deficit expanded to $39.1 billion in January, from $38.98 billion in December, whose figure was revised from a previously estimated deficit of $38.7 billion.



Analysts had expected the trade deficit to expand to $39.00 billion in January.



In the euro zone, official data earlier showed that German industrial production rose 0.8% in January, more than the expected 0.7% increase. Industrial production in December was revised up to a 0.1% gain from a previously estimated 0.6% fall.

The pound was lower against the dollar, with GBP/USD slipping 0.11% to 1.6720.

Earlier Friday, official data showed that U.K. consumer inflation expectations for the next 12 months slipped to 2.8% in the fourth quarter, from 3.6% in the previous quarter.



The dollar was higher against the yen, with USD/JPY rising 0.27% to 103.35 but lower against the Swiss franc, with USD/CHF edging down 0.19% to 0.8787.



In Switzerland, official data showed that consumer price inflation ticked up 0.1% in February, compared to expectations for a 0.2% rise, after a 0.3% fall the previous month.



A separate report showed that Swiss foreign currency reserves fell to 433.5 billion Swiss francs last month, from 437.7 billion Swiss francs in January.

The greenback was higher against the Australian, New Zealand and Canadian dollars, with AUD/USD easing 0.09% to 0.9082, NZD/USD shedding 0.35% to 0.8446 and USD/CAD climbing 0.89% to 1.1079.



In a report, Statistics Canada said the economy lost 7,000 jobs last month, compared to expectations for a 15,000 rise, after a 29,400 increase in January.



Canada''s unemployment rate remained unchanged at 7.0% in February, in line with expectations.



A separate report showed that Canada''s trade deficit narrowed to C$0.18 billion in January, from C$0.92 billion in December, whose figure was revised from a previously estimated deficit of C$1.66 billion.



Analysts had expected the trade deficit to expand to C$1.60 billion in January.



The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.09% to 79.74.





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