Nonfarm Payrolls On Tap

The Greenback experienced a mixed day in the trading market, seeing early day gains against major currencies like the JPY and CHF, and losses against the EUR and GBP. The oft traded EUR/USD cross saw a 200+ pip gain yesterday, on the heels of an apparent change in the outlook of Euro interest rates as well as fears over today’s upcoming Non Farm Payroll figures from the US.
Yesterday was a relatively quiet day on the US economic calendar, as Unemployment Claims headlined the Natural Gas Storage and a speech by Philadelphia Fed President Plosser. Unemployment Claims were down by 18,000 from last week to 357K, but speculation over the failing housing markets as well as concerns over a possible 100K drop in NonFarm Payrolls, sent the dollar on a bearish run, most notably against the EUR. Reports of nearly 1 million homes foreclosing in the US have sent a chilling […]

Original post by Forextvblog

This entry was posted on Friday, June 6th, 2008 at 3:04 am and is filed under currrency trading, forex, Nonfarm Payrolls, Daily Forex Analysis. 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.