Let’s find out what has been moving the market today…
Morning Forex report: February 7
On the daily chart, we can see a slight fall of the Kiwi. Mixed figures of Employment change and Unemployment rate that were announced late in evening yesterday affected the currency pair but not so much. Traders are on alert, waiting for the monetary policy statement at 22:00 MT time.
Despite poor wage growth in Japan compared to previous figures, that means the continuation of the loose monetary policy in Japan, USD/JPY pair is still falling. Maybe traders decided that the actual data better than forecast is more important than actual worse than previous one.
In spite of the positive prospects of commodities, the Australian dollar is dropping, a slight decline of Chinese stocks contributed to it.
Canadian negative PMI made the Canadian dollar drop. Canadian purchasing managers poorly rated the economic health.
Pound/Dollar pair remains stable while the euro is losing its positions against the dollar again.