Monday, March 7, 2011

Quiet start to the week!


Friday price action was pretty much dominated by the NFP and unemployment rate which came in line with consensus. NFP increased by 192k in February. Unemployment rate came down to 8.9%. Looks like this upturn may just be showing signs of US recovery.

Dollar weakened against the euro allowing the euro to break above 1.40.

EURGBP kept the sterling down as it failed to break through the 1.6340 resistance. This week market awaits the BOE rat decision.

Not much data out today, and the morning has been very quiet. Will see what happens when Europe and the U.S comes into play.

Data Today
US consumer credit – 8pm GMT

Happy Trading!
FxTaurian
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2 comments:

  1. kingichMarch 8, 2011 at 10:50 AM

    good luck in trading, will keep reading you :)

    ReplyDelete
  2. ForexChicMarch 8, 2011 at 1:13 PM

    Thanks for the follow kingich, good luck with your trading as well

    ReplyDelete

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