FRANKFURT (Dow Jones) – At almost $ 1.26 a clearly turned around € is on Friday evening from the European-dominated trade. The slightly lower U.S. labor market data had catapulted the common currency of even $ 1.25 at noon on the date.
Dealers approve the euro now a fast recovery potential of up to $ 1.30 to . After a series of disappointing economic data from the U.S. is the dollar bulls simply the withdrawal remained. From the ISM index of industry on the home sales up to the monthly U.S. employment report , there was no dollar- friendly signals.
Conversely, could during the week , the European economic indicators , mainly from Germany to convince . Here among other things, the VDMA orders rose strongly for the machinery and the labor market improved. The Spanish government bond auction and liquidation of the one-year tender of the European Central Bank ( ECB ), it was much better than expected.
Merchants had for some time warned against short-selling of the euro are a " Overcrowded trade. " Too many market participants had therefore set to a further decline of the common currency. It is strong now falls from the compulsion to coverings by euro purchases.
The U.S. labor market data have decreased substantially because of the elimination of temporary posts for the census. Excluding the short-term employment with the Census Bureau, the number of employment but has also increased. As the U.S. Department of Labor reported on Friday, the number of employed fell by 125,000 non-farm , while Dow Jones Newswires had expected Economists polled one point decrease of 110,000.
A total of 225 000 workers to temporary jobs lost in the census , while 83 000 were created in the private sector jobs. However, economists here had expected a gain of 110,000 jobs in the private sector. can Jesse Rothstein , chief economist at the labor ministry , said in an interview: "We need unprecedented growth rates to get out of this hole in a reasonable time. The depth of the hole is overestimated. "
The ounce of gold has been found in the London afternoon fixing to 1201.50 after a morning fixing at $ 1,210.50 .
=== Europe Europe Europe (17.29) (12.53) (8.09) EUR / USD 1.2593 1.2514 1.2493 USD / JPY 87.72 87.65 88.01 EUR / JPY 110.44 109.70 109.97 EUR / GBP 0.8295 0.8232 0.8242 EUR / CHF 1.3399 1.3300 1.3254 === DJG / mod / cln / voi