Forex | Forex | Dollar preparing for U.S. Payrolls (03/09/2009 23:43:00)

Dollar preparing for U.S. Payrolls

FXstreet.com (Buenos Aires) - Early Asia, majors remain close to New York closing levels, moving in tiny ranges as usual before U.S. Nonfarm payrolls. Dollar remains slightly bullish against most rivals, even Japanese yen that fell during previous American session on rising stocks. Asian stocks markets are expected to raise following Wall Street, yet market players will mostly remain cautious ahead of U.S. data.

Market reaction after the report, will likely to be a surprise, and the question everyone is asking since now on: usually a week report in the U.S. tends to feed risk aversion, sending dollar and yen higher, yet past month, a better than expected reading send dollar higher across the board.

Aud remains bullish against greenback, after gold reached $ 998.00 /oz. past Thursday, with Australian dollar close to the year high: quoting around 0.8400, resistances lie at 0.8440 and 0.8480 yearly high, ahead of 0.8500 key level; if pair breaches above, expect some upside acceleration that will push dollar down against other rivals.

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