Forex | Forex | Wall Street rose on NFP; Dollar finished the week under pressure (04/09/2009 21:57:00)

Wall Street rose on NFP; Dollar finished the week under pressure

FXstreet.com (Córdoba) – U.S. markets rose on Friday after the employment report showed a moderation in the pace of job losses. The Dow Jones rose 1.03% but it was not enough to erase previous losses and the index ended the week with losses. The unemployment rate is at the highest level in 26 years. Gold finished the week in the proximities of $1000 an ounce. The Dollar fell across the board during the American session and finished the week mixed, still moving in ranges against European currencies.

EUR/USD jumped during the American session, erasing the losses that occurred after the NFP report. The pair rose to 1.4325, but then pulled back to the 1.4300 zone. The Euro managed to end the week with strength after falling sharply on Tuesday.

GBP/USD also rose but the rally stopped at 1.6400. The pair failed to break above but ended near the zone. Cable rose for the third consecutive day against the Dollar erasing previous losses.

Greenback ended Friday with gains against the Yen but failed to hold above 93.00 and lost ground during the American session. USD/JPY ended with losses for the fourth consecutive week accumulating a decline of more than 450 pips.

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