Financial News and Economical Crisis

Dynamics
U.S. dollar on Friday, January 8 has come under downward pressure. When the pair EUR /USD closed at around 1.4416, the pair GBP /USD rose to 1.6025, and the pair USD /CHF closed around 1.0231. Demonstrated the strengthening Japanese yen against other currencies. When the pair USD /JPY closed at around 92.59, and the pair EUR /JPY stood at 133.51. Commodity currencies also strengthened against the U.S. dollar. Thus, the pair AUD /USD stood at 0.9237, the pair NZD /USD closed around 0.7365 marks, and the pair USD /CAD at 1.0306.

Causes
U.S. dollar on Friday, January 8 suffered losses against major currencies after the unexpectedly weak data on U.S. labor market strengthened on speculation that the Fed may continue to take measures to stimulate economic recovery and the expected interest rate increase in the near time is not worth it. According to the Department of Labor last month in the U.S. the number of jobs fell by 85,000 compared with an increase of 4,000 in the previous period. The unemployment rate remained at around 10%. At the end of the week dollar”s decline against the yen was 0.4%, while the euro has reached 0.6%. The yen rebounded on Friday after the Prime Minister of Japan, Yukio Hatoyama said that the sharp fluctuations in exchange rates are not welcome.

What to expect?
We need to understand whether the U.S. dollar to trade in line with the previous strategdf9y, when the signs of improvement in the economy, investors are shifting money from dollars into higher-yielding currencies, or whether it will strengthen against the backdrop of favorable economic news and expectations of more U.S. imminent rise in interest rates. It is likely that busy week of events will shed light on this situation. Today is scheduled to yield a number of important indicators. In particular, Canada will be the data on top of building and construction permits. In the United States will present data on an index of trends in the labor market.

Why worry?
In the absence of consensus on the direction of further tenders for the U.S. dollar is very likely to volatile changes in his situation.

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