clipped from: currencymarketupdates.com Today the main focus will be on payroll data from the US out at 13:30 GMT. Non-farm payroll data is the most important data point for all financial markets and is released normally on the first Friday of each month (this month Thursday due to Independence day holiday tomorrow).
Reaction to the data can cause huge volatility in the FX markets led by the USD as sentiment and expectation are measured in real time. A good number is US dollar positive and a weak number USD negative in normal markets. However at the moment in the current economic climate a good number will add to the risk appetite bandwagon and could lead to a sell off in the USD on improved sentiment.
A big mover in the markets yesterday was the Polish Zloty which advanced to its highest level in six weeks against the euro. Poland has lined up a World Bank loan of $4.5 billion and the pace of manufacturing shrank so a double win for the currency yesterday.
Report by Phil McHugh