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The euro was firmer against the U.S.
2008-04-08 00:44:00
LONDON (Thomson Financial) - The euro was firmer against the U.S. dollar, but in very rangebound trade as market players stayed on the sidelines ahead of Tuesday's U.S. Federal Reserve minutes and rate decisions in the euro zone and the UK on Thursday.The Federal Open Market Committee minutes will be scrutinised for any dovish slant, particularly after Friday's dismal U.S. jobs report and given that last month's 75 basis point interest rate cut was still less than the 100 basis points many had predicted."People are expecting the Fed to cut interest rates by another half point at its next meeting (at the end of this month)", said Mic Mills, a trader at TradIndex.com.This would take U.S. rates to just 1.75 percent, and with euro zone rates expected to stay on hold at 4.00 percent for the time being, the interest rate differential would "make the euro a good buy", Mills said.Beyond Tuesday, the market will turn its attention to rate decisions in Euro pe and the UK, followed by the G7...

The Daily Forex Market Outlook
2008-04-07 14:50:00
U.S. Dollar Trading (USD) was weaker on Friday as a result of a worse than expected Non-Farm Payrolls data release indicating employment fell by 80,000 in March, some 30,000 less than what was forecast. February?s figures were also revised to show a loss of 76,000 jobs rather than the 63,000 it originally reported, further indicating the world?s largest economy may be slipping into recession. Further to this news, the unemployment rate rose 0.3% to 5.1% its highest level in almost 3 years fuelling thoughts the Fed may cut rates yet again as early as the end of this month. The US share market had a mixed reaction to the weak economic data with the NASDAQ rising 7.68 points (0.3%) and the Dow Jones falling -16.61 points (-0.1%). Oil prices gained US$2.40 a barrel to US$106.23. Looking ahead, consumer credit data is to be released with forecasts expected to be 5.5, a drop from February?s figure of 6.9.· The Euro (EURO) remained strong against the major currencies in the wake of weak ec...
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2008-04-07 10:51:00
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