Thwarting US Employment Figures

Due to Presidents’ Day Holiday, today the US trade session will stay quiet and that indicates calm week opening. Therefore, there are not many responses to be expected from the US market on the last week events and data releases.

The major topic are liable to stay the current substantial edginess witnessed transversely worldwide asset marketplace and the probable timing and view of ‘exit strategies’, subsequent to the termination of previous week’s G7 authorities and the Central Bank officials.

The future policy outlook and the trading inflow for UK would be the imminent issue released by the BOE in their recent Quarterly Report on Wednesday. The traders participating in the Forex will be looking forward for the details of the Inflation report to have an overview about the Asset Purchase Facility in the coming Forex session.

USD sustained its current intensifying trading because the stock market drop down further on Friday due to the dissatisfactory US job reports failed to infuse the traders confidence in the Forex condition.

The Non-farm Payroll of January dropped to -20k as compared to the expectation of around 5k. The figures of January Unemployment Rate dropped to 9.7% from 10% due to loosing confidence of the citizens in seeking jobs.

If we look at the US stocks S&P is trailing with +3 points and closing at 1066, NASDAQ moving with +15 points and closed at 2141 and DJIA trailing with +10 points and closed with 10012.

Currency pair of EUR/USD trailing at the Forex trading platform with a lower level of 1.3586 and a high level of 1.3746 before closing at the level of 1.3652.

On the other hand, the currency pair of USD/JPY traded at the firm support of 89 but at the same time, the pair found the resistance at the level of 90.

Overall, the market kept trying to sustain a desirable trend at the Forex trading platform and the currencies showed the fluctuations in their prices as the signs of the data releases and their impact on the trading.