Currency Analyst since 2010


FXBAZOOKA.com - Asian shares edged higher on Friday and oil prices continued to recovered, but investors were cautious ahead of the US jobs data at 12:30 GMT. According to the forecasts, American non-farm payrolls probably increased 236K in January after advancing 252K in December. The unemployment rate is expected to remain at a 6-1/2-year low of 5.6%, while average hourly earnings were forecast to show a rise of 0.3% following the previous month’s fall of 0.2%. US data on Thursday were mixed, so investors are waiting for today’s figures for clues on the timing of the Fed’s first interest rate hike.

Brent crude futures traded a bit higher in the area of $56.98 a barrel. Oil recovered on the escalating conflict in Libya and after China’s central bank easing increased the expectations of oil demand.

EUR/USD is trading just below 1.1500. The euro is trading on the upside for the second day on the news that the European Central Bank had agreed to allow Greece’s national central bank to grant its banks emergency funding of up to 60 billion euro. In addition, the single currency was supported by the talk that the National Bank had bought euros to weaken the Swiss franc.

AUD/USD is trading just below resistance at 0.7850 as the Reserve Bank of Australia gave no clear hints on further monetary easing.

Here are the main events for today (seem more in the economic calendar):

Scroll to top