Hello everybody, hope you are fine. With no much of a surprise on these days, dollar continues rising after the ECB downgraded its economic growth forecast for 2009 to as low as 0.6%. Despite both European Central banks left rates unchanged, both Euro and Gbp fell late in the American afternoon as market sentiment has turned against them: while many market players thinkthe worst is over in the U.S., Europe is exactly in the opposite position: starting to go down. Japanese yen continues strengthening against major rivals, as it remains a lower risk currency. Today’s employment report is expected a bit disappointing for the U.S., and in other times, will probable drag dollar down but I don’t think the expected readings for today could affect greenback: the numbers should be worse than expected, to see some dollar losings.
These are the most relevant news for today, East Time:
06:00 EUR German Industrial Production for July (Expected-0.3% Previous 0.2%)
08:30 US Non-farm Payrolls for August (Expected -70K Previous -51K) and Unemployment rate, expected with no changes at 5.7%
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