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Currency Analyst since 2010

USD stabilized after declines

US dollar has stabilized after its decline on Friday after weak American Non-Farm Payrolls disappointed the bulls reducing the expectations of a soon Federal Reserve’s rate hike. According to the data released on Friday, US economy added 126K jobs in March vs. 246K expected. Still, many economists haven’t lost faith in the US labor market saying that the lower release doesn’t change the overall picture much.

Most European stock markets are still closed because of the Easter holidays. Greek Finance Minister confirmed that the country will make debt repayment to the IMF scheduled on April 9. EUR/USD met some resistance above 1.1000 and slipped below this mark. USD/JPY found some support in the 118.70 area.

AUD/USD failed to overcome resistance at 0.7700 and is now trading in the 0.7635 area. Aussie is under pressure as investors see a rather high poss8ibility of the Reserve Bank of Australia’s rate hike on Tuesday.

Crude oil futures went up as Saudi Arabia raised prices for sales to Asia recovering some of the losses made after Iran and global powers has agreed to a pact on the nation’s nuclear program. Brent rose by1.3 percent to $55.65%, while WTI futures added 1.8% to $50.02 a barrel.

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