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Market Review 31.01.2013

January 31st, 2013 Posted in Daily Forex News Bookmark and Share

The euro traded just below a 14-month high of 1.3586 against the US dollar during overnight trading last night, after the Fed decided yesterday to leave their policy of monetary easing in place. Against the JPY, the common-currency lost just over 30 pips during the Asian session, and is currently trading at 123.30, slightly below a recent 2 ½ year high.

Both crude oil and gold saw relatively little movement last night, as investors eagerly await a key US jobs report tomorrow for clues as to the current state of the American economic recovery.

Main News for Today

US Unemployment Claims- 13:30 GMT
• Analysts expect today’s news to show a minor increase in unemployment claims from last week
• If the predictions are true, the dollar could take additional losses against its main rivals ahead of tomorrow’s all-important Non-Farm Payrolls figure

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