Source: ForexYard
The markets saw relatively little movement during overnight trading last night, as investors were hesitant to open large positions ahead of tomorrow’s all-important US Non-Farm Payrolls report. The EUR/USD fell just over 20 pips, but was quickly able to recoup its losses. The pair is currently trading at 1.3067.
A better than expected Australian Employment Change figure resulted in the AUD/USD gaining more than 30 pips to eventually trade as high as 1.0479. The price of gold fell just over $4 an ounce before finding support at the $1690 level. Crude oil prices held steady around the $87.75 level throughout the night.
Main News for Today
Euro-Zone Minimum Bid Rate and ECB Press Conference- 12:30 and 13:15 GMT
• The euro-zone interest rate decision followed by the ECB press conference tend to have a significant impact on the marketplace, as they signal to investors what the current state of the EU economy is
• Any signs that the euro-zone economic recovery is slowing down could result in euro losses during afternoon trading today
US Unemployment Claims- 13:30 GMT
• The unemployment claims figure will provide investors with another indicator regarding the state of the US labor sector ahead of tomorrow’s Non-Farm Payrolls report
• Should the figure come in below the forecasted 378K, the dollar could receive a boost against the Japanese yen
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