Euro smashed down by Super Mario BautistaYesterday US stock markets closed slightly in the red in anticipation of the Non-Farm Payroll data due this afternoon. Asian markets are mostly flat; the Nikkei lost 0.05 percent over the trading session. Overnight, in Asia the JPY fell to a six year low, USD/JPY touched a high of 105.70 before pulling back from extreme overbought conditions. The dollar is losing some strength against the Aussie and Kiwi which are both oversold; we can probably expect some healthy pullback driven by carry traders in search of high yield currencies. Back in Europe, the EUR/USD has been smashed by the rate cut decision from -0.1 percent to -0.2 percent and the ABS purchase program launched by the ECB. EUR/USD trades now under the 1.30 key level and the fundamentals should drag the pair lower in the coming days, but for now it will remain in check until the NFP figures release later this afternoon. After the ECB monetary policy decision, traders are now awaiting the NFP figures from the US. According to Bloomberg, the figure should rise to 230K job additions from a previous 209K, such a good figure will support the buck for further appreciation. Good day,
Posted on: Fri, 05 Sep 2014 07:23:26 +0000
Trending Topics
Recently Viewed Topics
© 2015