Euro gained against the dollar most of the European trading session on increased risk appetite, buoyed before U.S. jobs data and also because Germany and France promise to push for closer fiscal union in the euro zone. In a speech to the German parliament, German Chancellor Angela Merkel vowed to fight for the euro. Talk of a possible reinforcement from the IMF in the amount of 200 billion euros will help ease the debt crisis. EURUSD rose 0.6 percent to 1.3536 from 1.3461 ahead of the US non farm payroll data then pared gains. After a brief spike to 1.3547, the pair eased down to 1.3485 as the dollar strengthened after the positive data.
The dollar slid against all its 16 major counterparts prior to the Non farm payroll report as investors sought higher-yielding assets due to the upbeat mood, thus diminishing the greenback’s safe-haven appeal. After the Non farm payroll report, the dollar pared losses as the US economy added 120,000 jobs in November and the unemployment rate fell to 8.6 percent from 9.0 percent. The NFP number though was slightly short of expectations of 122,000 jobs.
The Canadian dollar weakened after a dismal domestic jobs report that widely missed expectations. Canada’s economy lost a net 18,600 jobs in November from the month before, and the unemployment rate rose to 7.4%, from 7.3% the month before. It was Canada’s first back-to-back monthly jobs loss since the recession. Prior to the data, the loonie had been gaining against the greenback due to the broadly upbeat sentiment in the markets today. USDCAD had fallen to a European session low of 1.0078 from 1.0078. However after the poor Canadian jobs data, coupled with the positive US jobs report, the US dollar gained, pushing USDCAD to a high of 1.0149.
Sterling was up 0.3 percent against the dollar on risk appetite. GBPUSD opened Europe at 1.5674 and climbed to 1.5725. US jobs data end of the session boosted dollar, bring cable to close at 1.5695.
USDJPY opened the session at 77.77 and rose to 78.00. After the US jobs data, dollar’s knee jerk reaction made it spike to 78.01 then down to 77.76.
By clicking “Continue”, you agree to the default cookie settings on our website.
Trading Point uses cookies to ensure that we provide you with the best experience while visiting our website. Some of the cookies are needed to provide essential features, such as login sessions, and cannot be disabled. Other cookies help us improve our website’s performance and your experience through personalising content, providing social media features and analysing our traffic. Such cookies may also include third-party cookies, which might track your use of our website. You may change your cookie settings at any time.
Read more, or change your cookie settings.
What are Cookies?
Cookies are small data files. When you visit a website, the website sends the cookie to your computer. Your computer stores it in a file located inside your web browser.
Cookies do not transfer viruses or malware to your computer. Because the data in a cookie does not change when it travels back and forth, it has no way to affect how your computer runs, but they act more like logs (i.e. they record user activity and remember stateful information) and they get updated every time you visit a website.
We may obtain information about you by accessing cookies, sent by our website. Different types of cookies keep track of different activities. For example, session cookies are used only when a person is actively navigating a website. Once you leave the website, the session cookie disappears.
Why are cookies useful?
We use functional cookies to analyse how visitors use our website, as well as track and improve our website’s performance and function. This allows us to provide a high-quality customer experience by quickly identifying and fixing any issues that may arise. For example, we might use cookies to keep track of which website pages are most popular and which method of linking between website pages is most effective. The latter also helps us to track if you were referred to us by another website and improve our future advertising campaigns.
Another use of cookies is to store your log in sessions, meaning that when you log in to the Members Area to deposit funds, a "session cookie" is set so that the website remembers that you have already logged in. If the website did not set this cookie, you will be asked for your login and password on each new page as you progress through the funding process.
In addition, functional cookies, for example, are used to allow us to remember your preferences and identify you as a user, ensure your information is secure and operate more reliably and efficiently. For example, cookies save you the trouble of typing in your username every time you access our trading platform, and recall your preferences, such as which language you wish to see when you log in.
Here is an overview of some of the functions our cookies provide us with:
This website uses Google Analytics, a web analytics service provided by Google, Inc. ("Google"). Google Analytics uses analytical cookies placed on your computer, to help the website analyze a user's use of the website. The information generated by the cookie about your use of the website (including your IP address) may be transmitted to and stored by Google on their servers. Google may use this information to evaluate your use of the website, to compile reports on website activity and to provide other services related to website activity and internet usage. Google may also transfer this information to third parties, where required to do so by law, or where such third parties process the information on behalf of Google. Google will not associate your IP address with any other data held. By using this website, you give your consent to Google to process data about you in the manner and for the purposes set out above.
Change Settings
Please select which types of cookies you want to be stored on your device.
We are using cookies to give you the best experience on our website.
Read more or change your cookie settings.