Skip to content

Dollar ends on a positive footing

The greenback was relatively weak in the morning despite lower than expected German industrial order figures being released, as dealers trimmed down their long dollar positions. It continued to weaken as the Eurozone and the UK left interest rates on hold as expected.    

Weak jobs data in the US also added to it’s woes but then after Non-Manufacturing ISM and Non-Farms Productivity numbers came in better than expected  it started to regain it’s strength. This trend followed on in Far East trading and the dollar broke through the 1.43 level against the Euro. This morning we have Trichet speaking again and he is expected to echo his words of yesterday which highlighted the risks to the downside of economic growth in the region.

We have German industrial output figures due out this morning but all eyes will be on the non farm payroll figures due out of the US at 1.30UK time. It is expected at -75,000 on last months figure but will be a market mover if the number released is anything different from analysts predictions.

Related