Daily Forex News & Analysis – 01/02/13

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USD

The dollar fell on Thursday after poorer-than-expected jobless figures and subdued growth  increased expectations of more stimulus from the Federal Reserve. The greenback ended the day at 1.3576 to the euro and 91.69 to the yen. Non-Farm Payrolls headlines the economic news schedule  today and is expected to show a rise of 10k to 165k in January.

EUR

The single currency strengthened on Thursday after figures showed Germany’s unemployment rate fell to 6.8% in Jan from 6.9% in December. The euro ended the day at 1.3576 to the dollar and 123.72 to the yen. Today’s data includes Euro-zone PMI which is expected to remain the same.

GBP

The pound strengthened on Thursday after data showed a rise in consumer confidence and stabilization in house prices. Sterling ended the day at 1.5855 to the dollar and 145.37 to the yen. Today’s data includes Manufacturing PMI which is expected to dip slightly to 51 in January.

JPY

The yen weakened on Thursday after the Deputy Governor of the BOJ said that the central bank would use further stimulus if economic and price conditions warranted it, raising fears of more money-printing. The yen ended the day at 91.69 to the dollar and 123.72 to the euro.

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About Author

Hello, my name is Arkady Nagiev and I’ve been working for Forex4you company since 2008. I received an economic education and worked in various sectors of former Soviet Union. After the dissolution of the USSR, I decided to engage in the banking sector. In 1994 I took "Banking" course in the Moscow International Financial and Banking School. After that, I worked in the banks of Turkmenistan and Ukraine. While working at the bank, I became interested in the foreign exchange market, which required additional knowledge and pushed me to study strategies and techniques for the analysis of foreign exchange instruments. At first, I thought that technical analysis would be enough, but I soon realized that I was wrong, and began to study fundamental analysis. I sincerely hope that my Forex reviews and financial analyses help our clients to gain a better understanding of the forex market. Good luck with your trading everyone!