Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:
  • All news
  • Currencies
  • Stocks
  • Commodities



04.02.2011 13:05

European session: market awaits US jobs data

The dollar held onto two days of gains versus the euro before a government report that economists said will show U.S. employers added the most jobs in three months in January.
U.S. nonfarm payrolls probably increased by 146,000 in January after climbing by 103,000 the previous month, as jobless rate rose to 9.5% from 9.4$, survey showed.
The Institute for Supply Management’s index of U.S. non- manufacturing businesses released yesterday showed service industries expanded in January at the fastest pace since August 2005, indicating the economic recovery is broadening.
“The U.S. economy is picking up and starting to show some pretty consistent signs of recovery, which could spill over to jobs,” said Greg Gibbs, a currency strategist at Royal Bank of Scotland Group Plc in Sydney. Federal Reserve Chairman Ben S. Bernanke “boils it all down to employment, so a strong employment report would be quite important for the dollar.”
The euro headed for a weekly loss against most of its major counterparts as European Union leaders prepared to meet today in Brussels to discuss the region’s debt crisis and traders cut bets on the outlook for interest-rate increases.
The euro headed for a second weekly decline versus the yen before EU leaders meet today to try to narrow differences on a strategy to end the region’s financial crisis. Germany on Feb. 2 ruled out allowing the region’s bailout facility to fund bond buybacks from debt-strapped governments.
“The euro is a sell on the rally at this stage,” said Alex Sinton, a senior dealer in Auckland at ANZ National Bank Ltd. “The market’s got to be wary overall because the economic and debt situation behind the euro is still poor.”
European Central Bank President Jean-Claude Trichet said yesterday that inflation risks are “broadly balanced,” dimming the prospect of an increase in rates. Australia’s currency strengthened to a one-month high versus the greenback after the central bank lifted its growth and inflation forecasts in a quarterly report today.

EUR/USD:
traded within $1.3615-$1.3640 range.

GBP/USD: traded within $1.6120-$1.6170, range before eased support seen $1.6080/85.
USD/JPY: remained within Y81.50-Y81.70.


The main event comes with the US labor market data at 1330GMT. Non-farm payrolls are expected to increase by 136,000 in January following the 103,000 gain in December, with annual revisions due with this month's data. Private payrolls are seen up 165,000, while the unemployment rate is forecast to increase to 9.5% after the 0.4 point drop in December to 9.4%. Hourly earnings are expected to post a 0.2% increase, while the average workweek is forecast to remain unchanged at 34.3 hours in January.

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
  • Canada: Retail Sales, m/m, November 0.2% (forecast 0.5%)
  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
March 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page