Dollar and Non-Farm payroll

After the release of the US non-farm payroll in June, a strong profit was triggered. Which came to -62k from yesterday’s ADP data, which seemed to be smoother than what it was? According to the ADP data, the market prices were on week negative numbers. Jean Cluade Trichet has given the reason for profit booking, mentioning the current downtrend risks and the sluggish growth seen in the second quarter. After a good data in the first quarter, this indicates that ECB worries about the market and inflation and can make the market believe the ECB worries about inflation and cheering the EU governmental official. After the comments of French president earlier this week, about negative impact on growth, and Euro tightening the useless monetary system and the inflation comparing to negative growth.

Dollar Trading and ECD decision
According to economists and traders, the dollar is trading near its two-month low against the euro. The Central Bank of Europe will raise its interest rate to 4.25% and the U.S. payrolls are expected to go down for sixth months. The Dollar was also near its three-week low versus yen on speculation. Today’s industry report will show a growth in US services industries that slowed for the second month. Toru Umemoto chief currency strategist in Tokyo, at a unit of UK’s third biggest bank (Barclays Capital Inc) said that the bad news comes from US everyday. Today against dollar euro may go above $1.60.
According to the survey made by the economist of, the US Labor Department report says that last month the US employers have cut 60,000 jobs including government staffs. On June 6 against the Euro and Yen, the dollar weakened 1.2 percent, when US government reported that last month the U.S. lost 49,000 jobs in May. However, there may be limited losses in dollar by speculation. The US officials before a group of Eight Summit will losses in the dollar may be limited by speculation U.S. officials will verbally intervene to stem its decline and slow gains in oil prices before a Group of Eight summit. From July 7, the leaders from Canada, France, Germany, Italy, Japan, Russia, the U.K. and the U.S. are going to meet in Hokkaido, Japan.
Since April 24, the dollar has dropped to $1.5891 per euro, now it is currently trading at $1.5871 as of 7:36 am, GMT, from yesterday’s price of 1.5882. On April 22, the U.S. dollar fell to its all-time low of $1.6019 per euro. At present, dollar is trading at 105.99 yen as of 7:37 am, GMT from 105.91 in New York. The euro is trading at 168.21 yen from 168.20.
Pound and sterling against the Euro fell to its three-week low as the largest homebuilder of UK Taylor Wimpey Plc had a record of London trading failing to raise fresh funds from investors. Taylor Wimpey is a benchmark for housing industry, so their difficulty is pinpointing to the difficulties the whole sector is facing said by the head of the European hedge-fund sales, Neil Jones.