FOREXYARD: Forex News Blog |  |
| Can US Employment Data Boost the Dollar Again? Posted: 01 Nov 2012 03:19 AM PDT At FOREXYARD, we believe in keeping our clients prepared for potentially significant news events. As such, traders will want to pay careful attention to the US Non-Farm Employment Change, set to be released tomorrow, November 2nd at 12:30 GMT. As can be seen in the chart below, following a surprising drop in the US unemployment rate last month, the US dollar saw major gains against the Japanese yen. Don't miss out on another opportunity to capitalize on market volatility! Tomorrow's news is forecasted to come in at 123K, slightly higher than last month's 114K. Any better than expected news could help the USD against several of its main currency rivals, including the Japanese yen. In addition, positive employment data could boost US stocks, which were forced to close earlier this week due to Hurricane Sandy. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don't miss out!       |
| Posted: 01 Nov 2012 02:36 AM PDT The dollar came within reach of a four-month high against the Japanese yen in overnight trading, fully recovering from the losses it took after Tuesday's announcement that the Bank of Japan was initiating a new round of monetary easing. After trading as high as 80.11, the USD/JPY saw a minor downward correction to its current level of 79.99. Fears among investors regarding Greece's ability to institute new austerity measures required to secure the next round of a bailout package, caused the euro to take some losses in early morning trading. The EUR/USD fell close to 50 pips to trade as low as 1.2925 before bouncing back to its current level of 1.2945. Commodities and precious metals spent most of the overnight session range trading, as investors remain hesitant to open new positions before tomorrow's all-important US Non-Farm Payrolls figure is released. Main News for Today US CB Consumer Confidence- 14:00 GMT US ISM Manufacturing PMI- 14:00 GMT US Crude Oil Inventories- 15:00 GMT Read more forex news on our forex blog     |
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