Login
  • Total deals: 27693211
  • Total active micro accounts: 102173
  • Total active standard accounts: 156083

Dollar Held In Check Ahead Of Key Jobs Report

Share It:
09/02/2010 03:27

The dollar was stuck in place versus other majors on Thursday as traders sifted through a pile of economic news ahead of tomorrow's pivotal monthly jobs report.

Stocks pushed slightly higher in afternoon action on Wall Street, fueling a bit risk appetite and preventing much upside for the safe haven dollar.

A key prelude to the jobs report provided some hope that the US employment situation is improving, albeit slowly.

First time claims for jobless benefits fell more than expected last week, but remain stubbornly high. Jobless claims fell by 6,000 to 472,000 for the week ended August 28, better than the 475,000 forecast by economists polled by Reuters.

Pending home sales posted a surprising increase of 5.2 percent to 79.4 in July from June, according to The National Association of Realtors.

And the government reported nonfarm productivity fell 1.8 percent, the largest drop in almost four years.

The dollar was steady versus the euro after seeing significant weakness on Wednesday. The buck held near $1.2800, near yesterday's two-week low of $1.2855.

Against the yen, the buck was little changed at 84.25, having tested its 15-year low of 83.58 before finding its footing.

There was little movement in the dollar/sterling pair, which stayed near 1.5400 throughout the day. The buck has gained about 6 cents versus the sterling over the past month.

The European Central Bank kept its key interest rate at one percent for a sixteenth month.

Jean-Claude Trichet, the region's top policy maker, said the euro zone's economy remains on track for a moderate but uneven recovery. Still, the ECB decided to extend emergency lending measures through the end of year to support the banking system.

(Market News Provided by RTTNews)

Post Comment

Meta Login (required)
Password (required)
Name (required)
Comment (required)

(Characters left: 3000)

History

09/02/2010
Weekly Jobless Claims Edge Down To 472,000
09/02/2010
Dollar Sputters Ahead Of Jobless Claims
09/02/2010
U.K. House Prices Continue To Drop
09/02/2010
Italy Non-E.U. Trade Falls To Deficit In July
09/02/2010
Cyprus Inflation Quickens In August

Subscribe Live News

Subscribe Analytics

Trading terms

FXOpen provides the same trading opportunities to individuals and private companies that have been traditionally only offered to large financial institutions.

Check our trading terms
2005-2010 © FXOpen
All rights reserved.
Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Client should make an independent judgments as to whether trading is appropriate for him/her in light of his/her financial condition, investment experience, risk tolerance and other factors.