Finexo Daily Market Review 3rd July

This is the latest report "Finexo Market Review" contributed by the experts at Forex WebTrader. For more up-to-date information on what is happening in the FOREX World Today.

** YoY = Year over Year

                                                                                          ** MoM = Month over Month

USD.
 
Thursday, the US Dollar was mixed on extremely heavy volume after a report showing a larger-than-expected drop in US non-farm payrolls in June renewed concerns about the speed at which the economic recovery is happening. The data showed that 467,000 people lost their jobs in June, roughly 100,000 more than analysts had expected. The data sent stock markets falling and helped the Dollar rise against the Euro but fall against the Yen.
 
At 11:15PM GMT, the Dollar was up 1% to the Euro to 1.3999, down 1.2% to the Yen to 95.85, up .5% to the British Poiund to 1.6402, up 1.04% to the Canadian Dollar to 1.1615, up 1.75% to the Australian Dollar to .7941, up .15% to the Kiwi to .6297 and up .8% to the Swiss Franc to 1.0839.
 
 EUR.

Demand for the Euro seemed to fall Thursday as European Central Bank President, Jean-Claude Trichet remarked at the ECB policy meeting that economic activity would likely remain low for the remainder of the year. After leaving interest rates unchanged, the Trichet rocked the Euro’s faithful investors by talking about economic stabilization in 2010 and recovery after that. The comments came as a surprise because it has been widely expected that recovery would have started at the end of this year and growth would fill 2010.
 
As of 11:30PM GMT, the Euro was down 1.75% to the Japanese Yen to 134.24, down .55 to the British Pound to .8537, even against the Canadian Dollar to 1.6259, up ¾ of a percent to the Aussie to 1.7621 and down .2% to the Swiss Franc to 1.5183.