Monday October 10, 2005 - 05:34:59 GMT
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Tricom Futures and Foreign Exchange -
Forex: US Jobs surprise, but maybe it's just the beginning
The dollar advanced on Friday after a report showed the U.S. economy lost fewer jobs than expected in September, although the currency trimmed gains in the wake of security concerns in New York.
As result of Friday's jobs numbers, the Fed is expected to continue raising U.S. interest rates, with some market participants anticipating the fed funds rate to peak above 4.5 percent.
So far today, the USD has been unable to add to its gains from Friday, post US employment data. Trading should remain subdued today given the Columbus Day holiday in the US, with most financial markets closed.
Today’s Economic Releases:
Today's Top Trades
. Buy EUR/USD around 1.2100
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