Friday, 2 Jul 2010

Market Sentiment Remains Low After Disappointing U.S Jobs Data

The EUR/USD pair briefly traded above $1.26 after the release of disappointing Non Farm employment data. However, the Dollar later paired losses as equities continued to decline.

Non Farm payrolls fell by 125,000 in June, as 225,000 government workers that were hired for the 2010 census in recent months lost their temporary jobs. Only 83,000 private-sector jobs were added last month.

The EUR is at $1.2551 from $1.2519 late Thursday. The Dollar is at 87.71 Yen from 87.59 Yen, while the EUR is at 110.07 Yen from 109.58 Yen. The U.K. Pound is at $1.5194 from $1.5183.

Crude Oil futures declined for a fifth straight day following the release of disappointing U.S economic data. Light, sweet crude for August delivery fell $1.06, or 1.5%, to $71.89 a barrel on the New York Mercantile Exchange.