Thursday, January 3, 2013

EES: Currency Markets mixed ahead of NFP

Data was released indicating that applications for jobless benefits increased 10,000 to 372,000 in the week ended Dec. 29, the Labor Department reported today in Washington. The Euro (FXE) was down on this news. It comes ahead of tomorrow's Non-Farm Payroll release, notably the most significant economic data release in currency markets (not including central bank or interest rate announcements).
The Euro and Yen (FXY) traded off their highs. The Yen has been on a downward spiral since a new government in Japan announced plans to strategically debase the currency.