The currency pairs are undergoing through major changes in the Forex trade. The USD trade changed little bit in the yesterday‘s Forex session. The report on government jobs ratio will throw light on the US trade and financial position.
USD dropped down slightly against EUR in yesterday‘s Forex session pushed the pair to stop at the level of 1.4873. USD experienced the same trading condition against GBP and closed at 1.6604.
The USD had a bullish market trend as it gained more than fifty points against JPY and finally closed at the end of the day 90.67.
The trade dropped little after the Fed Reserve sustained on their decision of keeping the interest rates low and indicated that they will continue this rate at market for some more time.
The Forex trade and financial growing pace slowed down once again when the ECB President Jean Claude Trichet indicated a positive signal regarding the growth rate of 2010 and suggested that the exit speed will be slow in the coming period due to some urgent stimulus step implementation.
The US unemployment claims figures released yesterday is the leading indicator that stroked the last week‘ trade results but besides trying its best couldn‘t give strength to the USD that make traders to wait for some more trading sessions so that they can make their further trading positions in the coming time.
The Non- Farm Employment Report is going to put a strong impact on the USD. Whatever be the consequences USD further movement will depend on the figures released.
This put the traders in dilemma, as they are unable to make any anticipation about the possible trading trend that would likely to take place in the next session.
The weakness in the figures will return the risk situation in the forex market once again, amplify the treasuries and will assist the USD to strengthen its hold over market.
Overall, there are hopes for better trade and growth in market is expected as an indicator US economic status and support USD to trade high. On the other hand, it will support risk-taking and assist commodity trading and higher-yielding currencies at the USD expenditure.