Currency Analyst since 2010

Feb. 7: Asian session

Asian stocks rose as American jobless claims fell and investors weighed company earnings. MSCI Asia Pacific Index added 1.1% and pared its weekly drop to 1.4%. Nikkei 225 added 2.1%.

USD/JPY is a bit on the downside in the 102.00 region after rising from 101.40 yesterday. US dollar is holding its ground before US NFP data that may show jobs growth quickened last month.

AUD/USD found some support on the RBA statement release, but ran into sellers at $0.8975 and weakened into the $0.8950 area. The RBA repeated that the period of stability in rates is likely given the current outlook on prices and economic activity. GDP and inflation forecasts were raised due to the AUD decline. NZD/USD weakened in the early Asia, but found buying again ahead of $0.8200/10.

EUR/USD is trading in the $1.5580 area after it touched $1.3618 yesterday gaining more than 50 pips. GBP/USD keeps consolidating in the $1.6300 zone.  

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