Source: ForexYard
During Monday’s trading, the U.S dollar dropped points against the Euro as a result of a poor labor report from the U.S regarding employment in the nation. The highly anticipated Non-Farm Payroll report which is released on the first Friday of ever month reported surprisingly low figures on Friday last week.
The NFP report released figures of 120,000 which came as a surprise due to the fact that that 210,000 was the expected figure. The report put some downward pressure on the greenback as the figures show fewer jobs were created, leading to concerns over the health of the economy’s recovery.
This week will see a number of economic events that could possibly affect the movements of the currency and commodity markets as we look ahead to data such as the American Trade Balance, U.S Initial Jobless Claims and the Bank of Japans Press Conference to name a few.
Forex Market Analysis provided by ForexYard.
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