Monday, April 9, 2012

The dollar depreciated after disappointing data on the labor market in the U.S.

On Friday, most financial markets remained closed for Catholic Easter holidays. Currency trading remained in a narrow range and low liquidity before data on the labor market in the U.S.. According to the report in non-agricultural sector's biggest economy have been revealed 120,000 jobs in March. This is the weakest performance in five months and well below analysts' forecasts for 210K. After the news the dollar depreciated against major currencies as the most significant was the decline against the Japanese yen by 0.9% to 81.51. Dollar against the euro fell to 1.3063 from $ 1.3098 as the single currency also was not appetizing purchase after disappointing auction of Spanish bonds earlier in the week.
Yen in turn was the most profitable among the major currencies, while still expensive, and during today's Asian session, when it became clear that the economy of the island country has created a surplus current account, which increases the attractiveness of the yen as a refuge currency. The euro and the dollar reached a month lows against the Japanese currency to 106.25 and 81.40 respectively.
The British pound was in line with the euro and rose against the dollar by 0.3% to 1.5880, but on a weekly basis has become cheaper than the "greenback".
In the economic calendar today do not appear particularly important events, but interest will be the reaction of market participants after the employment figures on Friday, when stock markets were closed.