The euro plummeted against a basket of currencies on renewed concerns about the eurozone debt problems. Investors are concerned about the eurozone periphery countries’ ability to borrow money after the Spanish bond yields jumped following a poor debt auction. Against the US dollar, the euro dropped to 1.3035 from 1.3164, a 1% decline. Versus the Swiss franc, the single currency slid to 1.1997 from 1.2040 after better than expected Swiss inflation March figures. The Swiss National Bank said that it remains ready to intervene in the markets in order to defend the 1.20 exchange floor but the central bank’s credibility may be questioned.

The US dollar strengthened against its major counterparts yesterday supported by hopes about a US economic recovery ahead of today’s Non Farm Payrolls report. Today conditions in the market are thin as today it is the Good Friday Easter holiday. The NFP report is a crucial indicator for the health of the world’s largest economy as it reveals the number of paid jobs added or lost in the US economy, excluding the farming industry. Investors are expecting 203 thousand new employed people during March and the unemployment rate to remain unchanged at 8.3%. In the scenario whether NFP shows a higher than anticipated figure the dollar may find support as expectations for a third round of quantitative easing may start to fade. . If the NFP report reveals a significantly lower figure than anticipated, we may see the safe haven US dollar slide, as investors may be disappointed and hopes for growth may disappear.  Against the Japanese yen, the dollar rose to 82.43 from 81.82.

The British Pound dropped to 1.5805 from 1.5908 against a stronger US dollar but today it recovered its losses to trade at 1.5866. The Bank of England kept interest rates and its asset purchasing program unchanged as expected and no statement was released. Eyes will turn to the minutes due to be released on April 18.

Oil prices jumped to 103.36 dollars a barrel from 101.34. Gold edged higher to 1633.10 dollars an ounce from 1619.97. Against the euro, gold climbed to 1248.48 from 1233.19 an ounce. Silver rose to 31.79 dollars an ounce from 31.19. Stay in tune throughout the day with !

EURUSD1.3110SHORT @ 1.311064% of deals buy EUR
USDJPY82.05LONG @ 82.0552% of deals buy USD
GBPUSD1.5870SHORT @ 1.587050% of deals buy GBP
AUDUSD1.0250LONG @ 1.025070% of deals buy AUD
USDCHF0.9160LONG @ 0.916351% of deals buy GOLD
EURJPY108SHORT @ 10864% of deals buy OIL
1 data generated by Trading Central, 2 data obtained from easy-forex Inside Viewer
CalendarCurrencyTime (GMT)EventForecast
USD12:30Non Farm Payrolls203K
USD12:30Unemployement Rate8.3%

FTSE 1000.35%S&P 500-0.06%?NIKKEI-0.66%?
CAC0.19%NASDAQ0.40%CSI 3000.20%
3 at the time of writing