After falling across the board, the poor economic data didn’t help boost the US dollar. Once again, it fell against many forex trading currencies in the market because of the negative data from ADP Nonfarm Payrolls, which dropped from 23k forecast to -39K. Also contributing to the decline of the dollar is the advancement of some of the commodities following the positive data on Crude Oil Inventories. The stock markets closed with mixed results. While NASDAQ fell by 0.80%, Dow Jones was able to move up by 0.21%. Crude oil jumped to $82.58 per barrel, reflecting a 0.5% gain, while the price of gold continued to climb to a new high of more than $1,349. After increasing by 0.65%, gold closed at $1,347.90 per ounce.

Efforts to support recovery led to the euro reaching an 8-month high against the dollar. This movement is highly influenced by speculations that, along with the Bank of Japan, the Fed Reserve will also increase government debt purchases. In the end, the EUR/USD traded at a high of 1.3948 and a low of 1.3798. Cutting short its rally for the past few days, the British pound declined versus the dollar. The GBP/USD reached a low of 1.5832 and a high of 1.5940.

The US dollar slipped against many major currencies in the forex trading market, which include the euro, British pound, and Canadian dollar. The euro came out strong as it made a new record in six months, thanks to the better than expected results of Final Manufacturing PMI at 53.7. Should the EUR/USD go beyond the 1.3800 resistance level, the pair could go climbing up the charts. The EUR/USD traded between 1.3628 and 1.3791.

Though the Manufacturing PMI fell by 0.5 at 53.4, the British pound went up against the dollar. As the GBP/USD trades beyond the 1.5870 resistance level, the pair is expected to push higher. The GBP/USD reached a low of 1.5703 and a high of 1.5872

At first, it looked like the USD/JPY will touch a low level at 83, but in the end, the pair fluctuated to 83.5, staying at the same level as before. The Average Cash Earning fell to 0.0% from 0.8%, and the USD/JPY broke the 84.20 support level, which led to the negative momentum for the dollar. In the end, the USD/JPY traded at a high of 83.55 and a low of 83.15. As the Canadian dollar strengthened versus the US dollar, the USD/CAD pair reached a high of 1.0313 and a low of 1.0187.

In the US, the stocks market made a strong opening due to risk appetite but failed to sustain its gains as the profits for the end of the month kicked in. The DJIA closed at 10788 after losing -47 points, while S&P lost -3 points to close at 1141 and NASDAQ declined by -7 points to close at 2368. As for other economic data, they came out better than the previous records. The Weekly Jobless Claims, for instance, improved from 469k to 453k, while the Chicago PMI rose to 60 from 56.

Fears over the bailout of the Anglo Irish Bank turned out to be not as bad as expected. Fortunately, the Irish Bond Yields fell and helped obscure the news about the Spain’s Downgrade. The EUR/USD pair closed at 1.3640, after trading at a high of 1.3685 and a low of 1.3558.

The British pound moved up and down after making a strong rally in the opening. The EUR/GBP reached a new high for the month, while the GBP/USD traded at a high of 1.5925 and 1.5668 to close at 1.5725. The Japanese yen made gains versus the US dollar in the forex trading market to reach the Y83 level. Trading a narrow range, the USD/JPY traded between 83.15 and 83.82 to finally close at 83.50.