U.S. market at end in positive; $$ rallies

US forex trading news

Shares, ended with gains on Friday, but far are the heights. The employment report reinforces weighted shares, but the decline in gold and crude material stocks. The Dow Jones rose 0.22% and the Nasdaq gaining 0.98%. Gold fell by 4% and crude oil closed below $ 76 per barrel. The dollar extended gains during the U.S. session, and had the best day since June.

The dollar jumped on Friday after a better than expected employment report. To break the negative correlation between risky assets and greenback and the currency jumped along with the yield of treasury bonds.

Gold fell and land at $ 1147 reached the lowest price in a week. The metal fell on Friday, almost $ 50 delete the previous gains and ended the week with losses.

Greenback rose on a broad front. EUR / USD fell from 1.5060 to 1.4820. GBP / USD fell from 1.6670 to 1.6430. Despite falling sharply against the dollar, the cable rose to a one-week high against the euro.

The yen was the worst performance of the day and the weaker currency of the week. USD / JPY rose for the fourth consecutive days reached a 4-week high. The pair posted the biggest daily gain in the month

US forex trading news

Asia Forex Summary

The forex market in adsia

The dollar consolidated losses especially in Asian trade with major currencies such as AUD-USD and EUR-USD has already stopped in front of the highs in New York trading from. AUD was at 0.7291 to a high of 0.7299 in NY due to limited defensive options, while EUR-USD has been limited to 1.338 to a high of 1.3341 in New York. Similarly, USD-JPY attempts to 97.85 rally stalled, do what by the high of 97.99 in New York. Dealers reported some early JPY cross buying in the Tokyo fix, both alleged high demand, but also in response to a rise in the Nikkei in early trade. But crossing the market has long JPY, and Wall Street Journal reported that Chrysler was close to filing Chapter 11 resulted invited to a round of profit taking, sending USD-JPY and EUR-JPY 97.15 on profit taking, with EUR-USD fall back to 1.3275 as a result. The BOJ left rates unchanged at 0.10% expected. The 50 bp height of the inside of the RBNZ saw the kiwi fell by 0.5735 to 0.5634 lows, followed by consolidation at 0.5633-0.5676 in the afternoon. Asian stocks were all broadly on the back of the more DJIA gains and with oil rising above $ 51, copper much more optimistic on the economic outlook.

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U.S. Dollar Regains again Footing after NFP Report

US forex trade

The U.S. labor market weakened at a slower pace in November, back to non-agricultural wage and salary slipping below the 11K from the previous forecast for a 125K, while the annual unemployment rate unexpectedly fell to 10.0% from the 26 -- year high of 10.2%. So forex trend is regaining.
The outline of the report showed manufacturing wage and salary 41K declined during the month, with the construction of sliding-27K, while employment in the service sector 58K to the decline in the labor market mood. At the same time, the gauge of jobs graduates rose from 5.7% to 6.0%, while average hourly wages grew at a slower pace during the month, when the index increased at an annual rate of 2.2% below projections for a 2.3% increase. The data reinforces the improved prospects for future growth as the nation resulting from the worst recession since the Great Depression, and conditions are expected over the coming years, as the extension to improve the monetary and fiscal policy to continue through the real economy, however, feed Companies can keep a lid on production and employment in the coming months as the global trading conditions remain weak.

According to the forex experts

the dollar rose across the board following the better than expected NFP communication with the EUR / USD to reach break-out from the narrow field of an overnight low of 1.4912 against the North American market. The euro dollar broke below the 20-day SMA (1.4977) for the first time this week, and can the 50-day test at 1.4869 for short-term support for the dollar continued to gain against its major currency counterparts . However, as the hourly RSI continues to slide deeper into oversold territory, we can see the pair back into the North American stock futures trading as a harbinger of a more open bounce for the U.S. forex market.