Woww EUR/USD Managed to Climb to New Four Month Highs Above 1.3350, USD/JPY was Pushed Below The Previous Week at 95.25

Good day friends, Another safe haven currency Great British Pound analysis, After holding steady for much of Asian trade, the pound sterling again moved higher last night, this time as a result of improving employment conditions in the UK.

Safe haven currency Great British Pound fell just short of 1.57 against its US counterpart as 24k jobs were added to the economy and jobless claims fell 8.6k, both figures much better than forecast. A new trigger economic data, Meanwhile The employment rate remained steady at 7.8% but all other data figures provided further indication that the economy is in the middle of a strong recovery. Which is better than yesterday, The safe haven currency Great British Pound rally appeared to run out of steam during the US session though as we failed to break 1.57 but strong support was found at 1.5675

Global stocks market and Majors currency fundamental analysis, Safe haven currency US Dollar was again under pressure last night in what was otherwise a relatively quiet evening data wise. The strength in Japanese Yen and the Euro continued to provide the catalyst for selling of US Dollar as the US unit came under pressure against most of its counterparts. Yesterday during Asian trade we did see a bit of a bounce in the USD/JPY rate as it appeared the previous night's falls may have been somewhat overdone, but as the European session kicked in and some economic latest data better than expected European data provided support for the Euro, the US Dollar found itself again the target of investors looking to push it lower across the board. USD/JPY was pushed below the previous night's low to trade close to the levels seen late last week at 95.25, while EUR/USD managed to climb to new four month highs above 1.3350. The better economic data that helped push the Eurozone currency Euro higher was some better than expected industrial productions figures which came in at 0.4% for the month, higher than the forecast of a flat figure, with French figure the big surprise at 2.3%. The US Dollar clawed back some ground late in their session as the US deficit came in around expectations at $138.7b, but the markets attention looks to have already turned towards US retail sales figures due later tonight. USD becoming lower

Data releases:

AUD: Employment change, Unemployment rate, Consumer inflation expectation
NZD: RBNZ rate decision
JPY:  Machine orders, Monthly economic report
GBP: No data today
EUR: ECB monthly report, German wholesale price index
USD: Advance retail sales, Initial jobless claims, Import price index

Source: ozforex