EUR/USD touches 1.37 before Jobs and Factory Data

The dollar held a three-day gain against the euro before U.S. data forecast to show jobless claims decreased and manufacturing expanded.

The greenback was still poised for monthly declines against most major peers as concern the partial government shutdown will affect the economy underpins the Federal Reserve’s decision to keep buying $85 billion of bonds a month. The yen held near a two-week low ahead of a Bank of Japan meeting today at which policy makers are expected to maintain record stimulus. New Zealand’s dollar fell after the central bank signaled that currency strength may provide scope to delay interest-rate increases.

“The people who were expecting a more dovish statement from the Fed are unwinding their positions,” said Yuki Sakasai, a foreign-exchange strategist in New York at Barclays Plc. “The dollar was bought back, but whether it can sustain those gains will depend on the economic data.”


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.