Source: ForexYard
The US dollar saw very little movement during overnight trading as investors eagerly anticipate the outcome of today’s US Non-Farm Payrolls figure. Crude oil continued to fall during the Asian session, as poor fundamental indicators out of the euro-zone and an increase in US stockpiles weighed down on the commodity.
Main News for Today
US Non-Farm Employment Change-12:30 GMT
o Largely considered the most important indicator on the forex calendar
o Analysts are forecasting today’s news to come in at 170K
o Should the news come in below expectations, the dollar could see losses against the yen before markets close for the week
Next Week
Euro-Zone Elections 6.5.12
o Elections in both Greece and France are forecasted to generate volatility in the marketplace
o Opposition leader is forecasted to win in France, which could result in losses for the euro during next week’s trading
Forex Market Analysis provided by ForexYard.
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