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USD continues growing up!

At the beginning of the Forex trading day all the rivals of USD fell down under the pressure of the American currency and news coming from the United States. For example EUR/USD reached 1.4550 even before the European session, and GBP/USD rolled down to 1.5925. USD/CHF continued growing up and reached 1.0452 and USD/JPY was to break through the point of 90.00.

But then European currencies did a bit of correction and tried to set back at the levels of the trading day beginning. That was the result of good data on the situation in Eurozone: PMI Manufacturing grew up to 49.3 (it was expected to remain at 49). So, EUR/USD went back to the level of 1.4600 and USD/CHF – to 1.0419. The Britsh pound was also showing upward moving against both USD and EUR, influenced by the positive expectations of growing to 0.9%.

But the news from the USA turned the situation round. The United States don’t seem to go out of the crisis. The growing of Initial Jobless Claims and the reduction of ISM Manufacturing made USD push the European and British currencies down – 1.4520 EUR/USD and 1.5925 GBP/USD.

The latest news from the USA are showing, that the United States are far from recovering form the crisis. The main news to be taken into considertion on Friday, October 2, 2009 is, of course, Change in Nonfarm Payrolls and Unemployment Rate in the USA. And that data is expected to show quite negative dynamics, which can throw EUR/USD even to 1.4400 and GBP/USD to 1.5800. At the same time USD/JPY can fall down to 89.00.

by Jonathan Halprid
October 2, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
September 30, 2009 Important Forex signals news
September 29, 2009 Forex signals: USD rising up
September 25, 2009 Forex signals - GBP crushed down
 
 
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