FX & CFD trading involves significant risk
On Tuesday the dollar fell the most more than a month against the euro as signs manufacturing is expanding in the U.S. and China damped the appeal of safer assets. The euro advanced after German unemployment fell more than forecast. The euro extended gains after the Nuremberg-based Federal Labor Agency said German unemployment fell in December more than economists forecast. The number of people out of work slid a seasonally adjusted 22,000 to 2.89 million, the agency said. Australia’s and New Zealand’s dollars rose to the strongest since November.
On Wednesday the dollar rose against most traded currencies of the partner against the background of the declining interest in risky assets. Support the dollar had released statistical data showing that in November, orders for U.S. manufactured goods increased the maximum for the last 4 months of growth. As shown by the Department of Commerce, factory orders rose 1.8% against the previous value of the revised -0.2%. Increased demand for aircraft, automobiles and metals offset the decline in orders for computers and electronics. Euro fell against major currencies against the weak auction results for German government bonds, which resulted in the 4,057 billion euros drawn on 10 years with plans to 5.0 billion euros.
On Thursday the euro fell to an 11-year low against the yen and the weakest level in 15 months versus the dollar on concern Europe’s debt crisis is worsening and as reports showed the U.S. labor market is strengthening. The 17-nation currency weakened against most major peers after France’s borrowing costs rose at a bond sale as credit-rating companies threaten to cut the nation’s top AAA ranking.
The dollar extended gains versus the euro after ADP Employer Services reported U.S. companies added 325,000 workers in December, beating the highest projection in a Bloomberg News survey and following a revised 204,000 gain the prior month.
On Friday the dollar gained to a 15-month high versus the euro as U.S. employers added more jobs than forecast and investors speculated Europe’s debt crisis is worsening. The greenback headed for its fifth weekly advance versus the euro in what would be its longest winning streak since February 2010 amid optimism the U.S. economic recovery is gaining momentum. The 17-nation European currency fell to an 11- year low against the yen. It’s the worst week for Europe’s common currency in four months. Europe’s shared currency lost 5.1 percent versus the dollar over the past month and dropped 5.9 percent against the yen as investors sought refuge amid Europe’s sovereign-debt turmoil.
|remaining time till the new event being published|
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.