Monday’s Forex Outlook

USD Dollar (USD)

The Dollar strengthened versus most majors after Unemployment in U.S. Jumped to 10.2% and Payrolls Fell by 190,000 lowering expectations to a recent rate increase. NASDAQ and Dow Jones rose by 0.25% and 0.17% respectively, Crude oil fell by 2.8% closed at 77.43$ a barrel, Gold (XAU) continued to rise on Friday touching 1100$ , and closed at 1095$ an ounce. No economic data expected today.

EURO (EUR)

The Euro weakened versus the Dollar trading with a low of 1.4829 and with a high of 1.4843. German industrial orders rose by 0.9% in September less than 1.0% forecast. Today, German Industrial Production is expected at 1.4% vs. 1.7% prior.

EUR/USD - Last: 1.4860

British Pound (GBP)

The Pound rose versus the Dollar after U.K. producer prices rose for an 8th straight month in October as Oil and import costs gained and manufacturers sought to defend profit margins damaged in the longest recession on record. Overall, GBP/USD traded with a low of 1.6518 and with a high of 1.6635. No economic data expected today.

GBP/USD - Last: 1.6621

Japanese Yen (JPY)

The Yen strengthened versus the Dollar after the International Monetary Fund said traders are probably using the Dollar to fund carry trades around the world and it may still be overvalued. All in all, USD/JPY traded with a low of 89.61 and with a high of 90.81. No economic data expected today.

USD/JPY-Last: 89.87

Canadian dollar (CAD)

The Canadian Dollar weakened against The Dollar after Employment Change came out worse than expected at -43.2K vs. 10K forecast and the Unemployment Rate came out worse at 8.6% vs. 8.5 forecasts. Overall, USD/CAD traded with a low of 1.0689 and with a high of 1.0751. Today, Housing Starts are expected at 157K vs. 149K prior.

CAD/USD - Last: 1.0742

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Comment by ComethMoney

2009-11-09 16:56:03

It’s good to hear some kind of good news. Any type of rise is better than none at all. UFXBank your updates are truly appreciated and thanks.

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