Fundamental Analysis: February 9
The USA labor market attracts the attention of all traders through its statistics. The dollar still manage to stabilize its spot in spite of the fact that the Non-Farm Payroll (NFP) report has not stretched out even to a moderate status of what was reported 190,000 but only reflected 151,000 and the preceding value was re-assessed downward. But somehow, the trades were different directed on Monday.
A solid leap of 0.5% from 0.0% was made by the US Average Hourly Earnings. In the meantime, having a sudden fall by 5.0%, the unemployment rate attained a recurrent low level of 4.9%. A very vital thing for the Fed is the increase of the wage rate, pertaining to the inflation acceleration prospects that results to the dollar disregarding the poor NFP and drew attention on the Hourly Earnings outcome. The EURO did not show any pivotal data. The EUR/USD showed a slight increase by the end of the trades.
It is always a traditional bearish factor for British currency the bond yield spreads growth of the US and UK government as a result of the Friday's labor market release. However, the oil market bulls were extended which has a positive effect on the pound value. The pound/dollar returned upwards after a decrease.
The publishing of the Monetary Policy Meeting minutes will be held on February 18. In the meantime, the unpredictability in the world markets have a negative effect on business sentiment as stated by the Bank of Japan chairman. The currency pair USD/JPY aggressively decreased.