Darrell Jobman, Editor-in-Chief, TraderPlanet.com
The Euro pushed stronger in Asian trading on Friday as confidence in the US currency was generally weaker. There were renewed fears over the auto sector following warnings over possible bankruptcy for GM while there was also some speculation that the US fiscal stimulus was facing difficulties in Congress. The Euro pushed to a high above 1.27 and consolidated just below this level ahead of the US payroll data.
The headline employment number was close to market expectations with a 651,000 decline in non-farm payrolls for February. There were downward revisions to the January and December which meant that recorded employment fell by over 650,000 in each of the last three months while job loss over the past year totalled over 4 million.