Thursday, April 3, 2008

Volatility Should Continue for U.S. Dollar

The U.S. dollar was mixed today, as it fell strongly against the Canadian and Australian dollar, and the British pound.

It did manage to gain against the euro based on Eurozone Retail Sales, which fell by 0.5 percent. It also gained strongly against the New Zealand dollar, as the ANZ Commodity Price index reached a record high.

We'll get a better picture of the effects on the U.S. dollar with the various reports set to be released on Friday, as Non Farm Payrolls figures will come out, followed by Non Manufacturing Payroll and the Unemployment rate.

A report on the Average Hourly Earnings will also be released, giving a snapshot of the overall, general economic picture.

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