Analysis of the American trading session

During the American session on Friday, January 5, 2013, the US dollar declined against most of the major market currencies. The decline in the US currency at the beginning of trades was caused by the weak data on newly created jobs in the US, but a stronger decline was deterred by an increase in average wages in December.

The most significant drop in the American was against the Canadian dollar, fascilitated by employment growth in Canada. More: “Data on employment in the US and Canada .The Canadian has rushed up.” Also, additional pressure on the US dollar was provided by weak data from the ISM, which indicated a slight decrease in activity in the non-manufacturing sector of the US. More: “The recovery of the American has slowed: data from ISM in the US“.

The single currency ended the US session lower against the US dollar, despite the weakness of the US currency, which was caused by technical factors and a decrease in the EUR/GBP cross-rate.

Alexander Sivtsov