NBU guides UAH higher

Макроэкономика 12.05.2015 Following the second consecutive extended holiday weekend, the NBU allowed the official FX rate to appreciate to 20.5899/USD, or up 0.64% from the previous session's close. As the US dollar index lost 0.53% last week albeit recovering 0.17% yesterday, NBU officials appear to be tracking international financial market trends. According to the US jobs report for April last week, the expected 220,000 new jobs was achieved. However, March data was revised downward to well below 100,000 new jobs, thus causing mixed reactions in global markets. Despite this confusion, current consensus on when the Fed will raise rates is still September, allowing the hryvnia to postpone any panic over higher rates during the next two months.