AUTOREFRESH 
Fairly active forex trade sees USD lose ground
By Gerry Davies || March 6, 2009 at 07:35 GMT
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It’s been fairly busy overnight, with the USD seeing across the board losses as the market squares up ahead of this afternoons non farm payroll/unemployment releases due out at 13:30 GMT. There have been murmurings that non farm payrolls could be as bad as -1 million. Funnily enough that was going to be my quess (eh considered forecast) for the crappy t-shirt competition!!! EUR/USD having closed out around 1.2560 in Europe Thursday is presently up at 1.2700, while USD/CHF has slumped to 1.1505 from around 1.1730.
Not much on economic release front this morning:
- 08:15 GMT: Swiss CPI (Feb) expected flat both m/m and y/y.
- 09:30 GMT: UK producer prices (Feb) input +0.2% m/m, +1.1% y/y, output +0.1% m/m, +3.1% y/y.
If the payroll was very bad, stock market would drop fast. Investors would buy dollar due to risk aversion. Beware that Dollar could reverse in US session.
Markets are going up an down, but since the latest so-called world recession, the financial institutions has lost a lot value worldwide and it seems the end is not yet. All markets in the world has lost billions of dollars, the stock market, the curreny trading in all countries has devaluated and interest rates went down, almost to zero for bankers. The Central Bank of Europe lowered today the interest-rate for financial institutions to one and half %, trying to get the flow back in the markets.