After tumbling against its major counterparts on Friday amid dismal U.S. jobs data, the dollar recovered slightly in early Asian trading on Monday.
The U.S. Labor Department report showed on Friday that non-farm payroll employment increased just 39,000 in November, well below forecasts for a 130,000 increase. The unemployment rate jumped to 9.8% from 9.6% in October.
Amid the report, the dollar plunged to an 8-day low against the pound, 10-day low against the euro and the NZ dollar, 11-day low against the Aussie, 18-day low against the yen and a 3-week low against the franc.
The Federal Reserve could expand its new $600 billion quantitative easing program if the economy fails to revive as anticipated, its Chairman Ben Bernanke has said.
In a televised interview aired on Sunday, Bernanke told the CBS network the Fed’s policy easing was aimed at averting the US economy falling into a deflationary spiral and bring down high unemployment, shrugging off criticism the policy could lead to future inflationary pressures.
The dollar strengthened against the yen in early Asian deals on Monday. As of now, the dollar-yen pair is worth 82.92, up from Friday’s close of 82.60. If the dollar gains further, it may likely target the 83.5 level.
During early Asian deals on Monday, the dollar rose against the currencies of Europe, U.K. and Switzerland. At present, the dollar is worth 0.9772 against the franc, 1.3352 against the euro and 1.5743 against the pound, compared to Friday’s close of 0.9735, 1.3423 and 1.5784, respectively. The next upside target level for the dollar is seen at 0.990 against the franc, 1.325 against the euro and 1.565 against the pound.
The U.S. dollar gained against the Australian dollar during early Asian session on Monday. The greenback is currently worth 0.9869 against the aussie with 0.982 seen as the next upside target level. The pair closed Friday’s trading at 0.9936.
In early Asian session on Monday, the U.S. dollar climbed against the Canadian dollar. The greenback-loonie pair that closed last week’s trading at 1.0035 is presently worth 1.0060. If the greenback strengthens further, it may likely target the 1.008 level.
Against the New Zealand dollar, the U.S. dollar soared in early Asian deals on Monday. Currently, the greenback is worth 0.7625 against the kiwi, compared to Friday’s close of 0.7673. The next upside target level for the greenback is seen at 0.756.
Looking ahead, Switzerland’s foreign currency reserves data for November and the Eurozone Sentix investor confidence index for December are expected in the upcoming European session.
Canada’s building permits for October and Ivey PMI for November are slated for release at 8:30 am and 10:00 am ET, respectively.
Excellent goods from you, man. I’ve take note your stuff prior to and
you are simply extremely excellent. I really like what you’ve acquired here,
certainly like what you are saying and the way during
which you are saying it. You are making it entertaining and you continue to take
care of to stay it sensible. I can not wait to read far more
from you. This is actually a terrific site.
Hi, i think that i saw you visited my website so i came to “return the favor”.I’m trying to find things to enhance my web site!I suppose its ok to use a
few of your ideas!!
I am extremely impressed with your writing skills as well as with the layout on your
blog. Is this a paid theme or did you customize it yourself?
Either way keep up the nice quality writing, it is rare to see
a nice blog like this one these days.
What’s Happening i’m new to this, I stumbled upon this I’ve found It positively helpful and it has helped me out loads.
I’m hoping to contribute & assist different customers like its aided me.
Good job.
Hello colleagues, its great post about tutoringand fully explained,
keep it up all the time.
Please let me know if you’re looking for a article author for your weblog.
You have some really good posts and I feel I would be
a good asset. If you ever want to take some of the load off, I’d love to
write some articles for your blog in exchange for a link back
to mine. Please blast me an e-mail if interested.
Many thanks!
Hi to every , as I am in fact keen of reading this weblog’s post to be updated on a regular basis.
It contains good stuff.
This is a good tip especially to those fresh to the blogosphere.
Short but very accurate info… Appreciate your sharing this one.
A must read article!
Great info. Lucky me I ran across your site by accident (stumbleupon).
I have book-marked it for later!
Hi! Would you mind if I share your blog with my facebook group?
There’s a lot of folks that I think would really appreciate your content.
Please let me know. Thanks
What’s up, just wanted to tell you, I loved this post.
It was inspiring. Keep on posting!
Hi there, i read your blog occasionally and i own a similar one and i was just curious if
you get a lot of spam responses? If so how do you prevent it,
any plugin or anything you can advise? I get
so much lately it’s driving me mad so any support is very much appreciated.
I think that everything typed was very logical. But, think about this, what
if you were to write a killer headline? I mean,
I don’t wish to tell you how to run your website, however suppose you added a headline to
possibly grab people’s attention? I mean Dollar Slightly Off Friday’s Low Against Majors
| Forex Trading Market is kinda boring. You ought to
peek at Yahoo’s home page and note how they write article
headlines to grab people interested. You might try adding a video or a picture
or two to get readers excited about what you’ve got to say.
In my opinion, it would bring your posts a little bit more interesting.
Right here is the perfect site for everyone who really wants to find out about this
topic. You know so much its almost hard to argue with you (not that I personally will need
to…HaHa). You definitely put a fresh spin on a topic that’s been discussed for years.
Excellent stuff, just excellent!
I like the helpful info you supply to your articles.
I will bookmark your blog and check once more right here frequently.
I am slightly sure I’ll be told many new stuff right here!
Best of luck for the next!
Fantastic goods from you, man. I’ve understand your stuff
previous to and you are just too magnificent. I really like what you’ve acquired here, really like what
you are stating and the way in which you say it. You make it entertaining and you still care for to keep it
wise. I can not wait to read far more from you.
This is actually a terrific web site.
I was recommended this web site by my cousin. I’m not sure
whether this post is written by him as nobody else know such detailed about my difficulty.
You are amazing! Thanks!
Hello there! This post could not be written much better! Looking at this article
reminds me of my previous roommate! He constantly
kept talking about this. I will forward this information to him.
Fairly certain he will have a great read. Thank you for sharing!
I always spent my half an hour to read this blog’s articles everyday along with a mug of coffee.
Does your blog have a contact page? I’m having problems
locating it but, I’d like to shoot you an e-mail. I’ve got some creative ideas for your blog you might
be interested in hearing. Either way, great blog and I look forward to seeing it improve over time.