Daily Forex Commentary for 020609

February 6, 2009

Problems in Russia, Eastern Europe Could Spell Trouble for Euro

Now that the European Central Bank and the Bank of England interest rate decisions are out of the way, Forex traders are readying for the release of the U.S. Payrolls report. The latest guesses are for a job loss of 500K. Last month the report showed a loss in December of 524,000 jobs. With more corporations announcing layoffs earlier in the week, it is difficult to project anything better than a loss of 500,000 jobs at this time.

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