The Euro made significant gains on the safe haven currencies today, as an increase in U.S. indices led to risk taking among investors. A slow news day did not stop traders this afternoon, as the EUR advanced over 100 pips on both the U.S. dollar and yen. Currently EUR/USD is trading around the 1.2385 level, up from 1.2265 earlier this morning. EUR/JPY is trading around the 110.75 level, up from 109.75 just this afternoon. Analysts attribute the euro's ascent to a good day on the U.S. stock exchange.
Next week promises to be a busy one, largely because of the U.S. Non-Farm Employment Change report. The Non-Farms report is one of the premier economic indicators. Even though the final result will not be known until Friday, traders can expect the markets to be very volatile throughout the week. Analysts are forecasting a steep drop in the employment figure, which if true could lead to further losses for the greenback.