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European Session – Dollar surges against yen, focus on US jobs report

Posted on March 8, 2013 at 12:09 pm GMT

The dollar-yen pair remains in the spotlight today as the greenback outperformed against the Japanese currency, continuing its advance during the European Session to hit a 3-1/2 year high on speculation of an improving US labour market ahead of the nonfarm payrolls report. The NFP is to be released at 1330GMT. The forecast is that the US economy added more jobs in February than the previous month, 162,000 expected, adding to signs the world’s biggest economy is gaining momentum. If [..]

Asian Session – Dollar hits 3-1/2 year high versus yen

Posted on March 8, 2013 at 7:10 am GMT

Dollar extended higher against the yen in Friday’s Asian session, breaking the key 95.00 yen psychological level. Helping the upbeat risk appetite was China trade data which came out on the whole better than expected. Dollar could move higher on strong US jobs data due later today. The nonfarm payrolls report is to be released at 1330GMT. The forecast is that the US economy added more jobs in February than the previous month, 162,000 expected. USDJPY hit a 3-1/2 year [..]

US Session – Euro jumps above $1.31

Posted on March 7, 2013 at 7:05 pm GMT

The euro surged above $1.31 to an eight-day high against the dollar after European Central Bank President Mario Draghi’s news conference when he eased some concerns over the euro zone. Draghi was optimistic about the region’s economy picking up later in the year, though revised down growth projections for the year. The ECB left the key interest rate at 0.75 percent. EURUSD surged to a high of $1.3115 from $1.2987. EURGBP bounced to 0.8730, recovering from an earlier low of [..]

Forex News – Euro and sterling gain after central banks leave rates unchanged

Posted on March 7, 2013 at 2:35 pm GMT

The euro rose against the dollar after the European Central Bank announced its decision to leave interest rates on unchanged as was widely expected, after its policy meeting on Thursday. The central bank’s Governing Council left the key lending rate at 0.75 percent. EURUSD climbed to $1.3115 from $1.3022 before the announcement. The single currency then pushed higher to $1.3096 as ECB President Mario Draghi’s press conference got underway 1330 GMT. Markets were initially downbeat on the economic outlook for [..]

European Session – Sterling bounces after BOE leaves policy unchanged

Posted on March 7, 2013 at 12:25 pm GMT

The euro was broadly higher against most major counterparts in Thursday’s European session, lifted by a successful Spanish bond auction, which hit the top end of the target and led to lower yields. EURUSD surged to a session high of $1.3042, up from the open of $1.2991. However the euro remains vulnerable to hints of future policy easing by the European Central Bank, which holds its policy meeting later today at 1245 GMT. While the ECB is seen holding rates, [..]

Asian Session – Yen supported after BOJ refrains from expanding stimulus

Posted on March 7, 2013 at 7:03 am GMT

The yen gained after the Bank of Japan announced it did not expanding monetary stimulus at the conclusion of its policy meeting today. However even though today’s policy decision was not a surprise, bolder monetary easing measures are expected in the near future, especially after the appointment of a new Bank of Japan governor after current chief Masaaki Shirakawa steps down. This will support yen weakness in the future. USDJPY fell 0.2 percent to 93.79 after the policy announcement, down [..]

US Session – Dollar strengthens after jobs data, euro slips ahead of ECB

Posted on March 6, 2013 at 8:58 pm GMT

The dollar strengthened against most major counterparts on Thursday after upbeat data. Dollar jumped against the yen following data showing the US economy created more private-sector jobs than expected last month. The ADP report showed new private-sector jobs increased by 198,000 in February, the highest since February 2012, and higher than expectations of 172,000. A separate report released later in the US session caused dollar to extend gains higher. Dollar rose to a high of 94.10 yen, gaining 0.9 percent [..]

Forex News – Dollar jumps versus yen after ADP jobs increase

Posted on March 6, 2013 at 1:30 pm GMT

Dollar jumped against the yen following data showing the U.S. economy created more private-sector jobs than expected last month. The ADP report showed new private-sector jobs increased by 198,000 in February, the highest since February 2012, and higher than expectations of 172,000. Meanwhile, the January 2013 report, which reported job gains of 192,000, was revised upward by 23,000 to 215,000 jobs. ADP is a leading provider of human capital management solutions, in collaboration with Moody’s Analytics . The report, which [..]

European Session – Euro slips, focus turns to ECB meeting

Posted on March 6, 2013 at 12:49 pm GMT

Euro dipped in the European session as investors grow cautious ahead of a key European Central Bank policy meeting tomorrow. While the central bank is not expected to cut interest rates tomorrow, there is increasing speculation that it will hint on rate cuts to come in the near term. ECB President Mario Draghi is expected to sound dovish in his news conference and give lower projections for both growth and inflation in the region, giving the ECB room to cut [..]

Asian Session – Australian dollar rises after upbeat GDP data

Posted on March 6, 2013 at 6:27 am GMT

Asian markets were upbeat after risk appetite flowed over from the US session when the Dow Jones hit record high, encouraging investors to take on more risk amid signs of a continuing US economic recovery and globally accommodative monetary conditions. The euro held steady above $1.3050, underpinned by this improved risk appetite. EURUSD opened in Asia at $1.3049 and rose 0.15 percent to $1.3069. Against the yen, euro fluctuated between 121.48 and 121.85 yen. Focus will be on the European [..]

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