Chris Lee | forex

July NFM Payroll below expectations.

Aug 9th 2010 at 12:18 AM

Friday's July Non Farm Payroll Report showed that an additional 131,000 jobs were lost in July.

Many experts expect a US dollar rebound this coming week since it hit bottom at 80.21 last friday after the NFM report was out.

Currencies to watch out for this week: USD/JPY

Reason: There are indications Bank Of Japan may intervene if YEN becomes too strong and hurts exports.

USD/CAD

Reason: CAD weakened after unemployment increased last month from 8.5 to 8.7%

Long term US $ index is bullish but short term bearish. US Feds meet tomorrow.Interesting to see if they are going to implement more strategies to deal with the stubbornly high unemployment figures.

All the best for this week!!

Chris

Your friendly forex trader

1 comments
Please to comment
Sep 13th 2013 at 6:30 AM by marty
great,thx for sharing. mc
   

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