New York, New York (PressExposure) December 07, 2009 -- "EUR struggle to hold the position at he market as the pair of EURUSD trading weak these days due to many changes expected in the interest rates as the comments of the President Trichets signaled"
USD trading low making small profits as the stocks dropped down slightly once again in this week. ADP November reports related to the employment status reached to -169k in comparison to the expectation of -155k. Likewise, the situation of crude oil is not satisfactory and reached at 2.1 million beside the forecasts of around -0.4 million and expected to have a pull back in the crude oil trades.
Coming up in this week, possibly on tomorrow the data regarding the jobless claims will be declared and this would make the picture clearer.
EUR struggling hard to maintain its strong position at the market to keep staged at the price of 1.5100. US stocks were dealing with the reticent profit earning pressure because of the reiteration of the risks. EURJPY become successful to make appreciable gains because of the weak position of the JPY.
However, the EUR/USD trading poorly at the lowest position of 1.5031 and a highest price position of around 1.5112 and finally are closed at 1.5045. Moving ahead to third quarter GDP is the expectation of 0.4% against the previous expectation of -2.0%. ECB interest rate declaration and expectation of keeping the rate at 1% and the Trichets words on the economic condition would be the highlight for today.
USD is trading under pressure but gold is moving forward on the path of its success and touching heights by reaching at the price of $1215 in Asia, as there is resistance in the price action at the level of $1200 vitalizing the bulls in the market.
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