International Currencies

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Today’s Discussion:

February 3, 2012

 

The Dollar is a bit mixed this morning; gaining ground against most of its peers, but still about 0.15% lower on the Euro and the British Pound. Traders are waiting for the latest US payrolls data this morning and equity futures have been running flat as well.

So far this week, data has showed that the private sector added 170,000 jobs, and correction spending was higher than expected, and manufacturing was in line with expectations. None of it, however, has been enough to offset uncertainty in the long term economic view.

At a summit in Brussels on Monday, European leaders signed an agreement which moves them closer to fiscal coordination, which is seen by most as critical to the survival of the Euro. 25/27 EU member states signed off on the agreement.

Other details of the agreement include the establishment of a permanent €500 billion rescue fund and specific deficit control measures promoted by Germany.