USD Dollar (USD)

The Dollar strengthened against most majors after ADP Non-Farm Employment came out worse than expected at -169K vs. -149K forecast showing employment is still troubled by the recession increasing demand for the Dollar as safety. The Beige book was released saying consumer spending has improved and the U.S economy is improving. NASDAQ rose by 0.42% and Dow Jones weakened by -0.18%. Crude oil fell by -2.3% to 76.6$ a barrel after the inventories report showed increases in the supply instead of a decrease expected. Gold (XAU) rose by 1.2% reaching a new record and closed above 1214 an ounce. Today, Unemployment Claims is expected at 479K vs. 466K prior, ISM Non-Manufacturing PMI expected to slightly rise from 50.6 to 51.6, Fed Chairman Bernanke Testifies.

EURO (EUR)

The Euro weakened versus the Dollar after disappointing employment figures in the U.S were released. Overall, EUR/USD traded with a low of 1.5032 and with a high of 1.5109.Today, Retail Sales is expected at 0.2% vs. -0.7% prior, Interest Rate Decision is expected to remain at 1%, ECB President Trichet Speaks.

EUR/USD - Last: 1.5086

Resistance

1.5114

1.5144

1.52

Support

1.5034

1.4970

1.4842

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