: Focus on today’s Non Farm Payrolls report


Master Trader
Jan 11, 2011
Forex Market - The euro rose yesterday recovering some of its losses after the European Central Bank meeting yesterday. The ECB hiked the rates by 25 basis points to 1.50% in an effort to control the high inflation and maintain price stability. During the press conference that followed, ECB President Jean Claude Trichet said that the central bank decided to suspend the minimum rating requirement threshold for Portuguese government bonds that can be used as collateral. The comment supported the single currency as earlier this week rating agency Moody's cut Portugal's sovereign rating by four notches to Ba2 and kept it in a negative outlook. The phrase "strong vigilance" was absent but Trichet said that the central bank will monitor price levels very closely indicating that rates may go up again in the following months. Against the dollar, the euro jumped as ... for full forex news please click on link below:

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