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6 Sep 2013
Session Recap: USD mixed ahead of nonfarm payrolls
FXstreet.com (Córdoba) - The USD trades mixed on Friday, stronger versus the EUR and the GBP but weaker versus commodity currencies and the yen ahead of the key event of the week, the US nonfarm payrolls.
The NFP are seen as an important driver for whether the Federal Reserve will announce a roll back in its bond purchases at its Sep 17-18 meeting. Economists expect the US economy to add 180,000 new jobs in August, up from 162,000 in July. The unemployment rate is forecast to stay unchanged at 7.4%, the lowest since 2008.
EUR/USD extended its decline but managed to hold above 1.3100, even after the disappointing German Industrial Production data. GBP/USD dipped back below 1.5600 to a low of 1.5565, while USD/JPY was unable to hold above 100.00 and fell back to the 99.60 area.
Currencies linked to commodities, such as the CAD, AUD and NZD are outperforming, trading at daily highs ahead of the jobs report.
Main Headlines in Europe:
Germany: Trade surplus narrows against expectations in July
Switzerland: Industrial Production falls 1.1% in Q2
Global equities edge higher, USD sees general retreat across board
UK: Goods Trade deficit widens to £9.853B in July
UK: Annual Industrial Production slides 1.6% in July
Moody´s changes outlook on Germany's banks to stable
Markets and Bonds on a positive momentum ahead of NFP release
Germany: Industrial Production drops 1.7% in July
Cyprus parliament approves bailout legislation
The NFP are seen as an important driver for whether the Federal Reserve will announce a roll back in its bond purchases at its Sep 17-18 meeting. Economists expect the US economy to add 180,000 new jobs in August, up from 162,000 in July. The unemployment rate is forecast to stay unchanged at 7.4%, the lowest since 2008.
EUR/USD extended its decline but managed to hold above 1.3100, even after the disappointing German Industrial Production data. GBP/USD dipped back below 1.5600 to a low of 1.5565, while USD/JPY was unable to hold above 100.00 and fell back to the 99.60 area.
Currencies linked to commodities, such as the CAD, AUD and NZD are outperforming, trading at daily highs ahead of the jobs report.
Main Headlines in Europe:
Germany: Trade surplus narrows against expectations in July
Switzerland: Industrial Production falls 1.1% in Q2
Global equities edge higher, USD sees general retreat across board
UK: Goods Trade deficit widens to £9.853B in July
UK: Annual Industrial Production slides 1.6% in July
Moody´s changes outlook on Germany's banks to stable
Markets and Bonds on a positive momentum ahead of NFP release
Germany: Industrial Production drops 1.7% in July
Cyprus parliament approves bailout legislation