Euro down against US dollar

Euro falls against US dollar in early European trading

The 16-nation euro slipped against the U.S. dollar Monday as traders shrugged off unemployment figures from Washington and looked ahead to this week's ECB decision on interest rates.
The euro bought $1.3406 in midday European trading, down from $1.3646 on Friday. The British pound fell to 1.4970 from $1.5180 on Friday.

Washington reported Friday that the U.S. unemployment rate had jumped to 7.2 percent, the highest in 16 years. The U.S. lost 524,000 jobs in December, bringing the total job loss for last year to 2.6 million, the largest since World War II.
But the losses were in line with what traders had predicted, said James Hughes, a market analyst at CMC markets.

"Friday's non-farm payrolls, although disappointing, fell squarely in line with expectations, whilst the prospect of the ECB meeting later this week is also heaping downside pressure on the common currency," he said.
The ECB is widely expected to reduce interest rates when it meets on Thursday. Lower rates can help bolster an economy, but weaken a currency as traders transfer funds to investments with greater returns.

[Why ForexGen]


1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.

We consider every client as a special case, a VIP and a partner. A client's profit is our success and a client's loss is a significant call of action for us. Customer care is the heart of our business, we know every client on personal bases as we provide 24/7 customer support.
We keep contact with our clients to ensure that we are on the right track. Leading our client relationship to success is our focus.
Let [ForexGen] prove to you that you have taken the right step by choosing our partnership.