The Euro weakened against the
dollar for the fourth day on Thursday as the head of the European
Central Bank, Mario Draghi pass judgement is good for the economy of the
area but still opens the opportunity for relaxing the policy, making
investors remain anxious the day before the US employment data tenga.
While
waiting for the US employment data today, gold prices dropped after
data showed U.S. weekly jobless claims level was down last week which
increase expectations that the NFP report on this day will break
expectations and crude oil shrank by 2% over a growing number of signs
of slowing down the growth of the US economy made investors do
porofit-taking considering the price had reached the top of range
trading lately. The US stock exchange also closed
in the negative area, with the S & P dropped to below the key level
of 1400, depressed by the ISM non-manufacturing report for the weak.
Economic
Data today is a monetary policy statement, the Halifax HPI RBA of the
United Kingdom, the retail sales of Switzerland, services PMI, retail
sales of the European zone, non-farm payrolls, the jobless rate in the
US, as well as reports earnings of Berkshire Hathaway
EUR/USD
closing 1.3152 1.3180, low, high, 1.3097, H:1653.45, and XAUUSD
C:1636.45 L:1631.00, CO-S c: 102.45, H: 105.42 L: 102.36. Dow C: 13143, H: 13248, L:13118
Posted in: Market Review U.S. 04 May 2012