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All Eyes On The Nonfarm Payrolls.

The US Dollar traded with mixed results yesterday as another day of economic data left a cloud over the straining US economy. Today we look ahead to critical US data, namely Non-Farm Payroll, which should map the direction the dollar will take after a week of important economic data. After the 50bp rate cut from the Federal Reserve earlier this week, investors shifted focus toward the greenback. Yesterday saw the release of a basket of key news events from the US that shaped the day’s trading behaviors. Core PCE Price Index, ECI, Personal Spending, and Unemployment Claims were all released at 13:30 yesterday within expected forecasts. Unemployment Claims returned at 375K, rising by just under 70K to reach its highest level since October 2005. Finally, to end the US news day Chicago PMI returned with less than stellar results, but did not have a big affect on the day’s trading. […]

Original post by Forextvblog

This entry was posted on Friday, February 1st, 2008 at 6:59 am and is filed under Nonfarm Payrolls. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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