Forex - Dollar steady in thin Singapore afternoon trade as focus shifts to FOMC |
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Mon, 07 May 2007 09:13
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SINGAPORE (XFN-ASIA) - The dollar was steady against the yen and euro in thin trade here after encountering some weakness following last Friday's softer-than-expected US non-farm payrolls data, with market attention turning to the upcoming FOMC meeting on Wednesday, dealers said.At 3.27 pm (0727 GMT), the dollar was at 119.87, up slightly from 119.85 in Sydney trading some three hours earlier, while the euro was at 1.3602, down slightly from 1.3605 earlier.On Friday, Labor Department data showed private non-farm payrolls rose just 88,000 last month which was short of the forecast of a 100,000 increase. The jobless rate climbed to 4.5 pct from the revised 4.4 pct outcome in March while average wages rose just 0.2 pct, below forecasts of a 0.3 pct gain.Japanese markets reopened today after Golden Week but players maintained caution ahead of some important central bank meetings this week, including the Federal Open Market Committee on Wednesday followed by Bank of England and European Central Bank decisions on Thursday, dealers said.'Attention towards the FOMC meeting will again focus on rhetoric, not action,' noted DBS analysts. 'No change is expected in the Fed funds target rate of 5.25 pct.'The yen market also generally ignored the release of the Bank of Japan's minutes from its March policy board meeting, which dealers said was hardly surprising given that the minutes did not break any major ground.Singapore 3.27 pm (0727 GMT) vs Sydney 2.07 pm (0407 GMT)US dollaryen 119.87 up from 119.85sfr 1.2087 down from 1.2098Eurousd 1.3602 down from 1.3605yen 163.12 up from 163.05sfr 1.6447 down from 1.6460stg 0.6812 down from 0.6818Sterlingusd 1.9968 up from 1.9965yen 239.33 up from 239.24sfr 2.4137 down from 2.4149Australian dollarusd 0.8243 down from 0.8248stg 0.4128 down from 0.4132yen 98.80 down from 98.855New Zealand dollarusd 0.7379 up from 0.7371singapore@xfn.com
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Forex - Dollar gains ground in Singapore afternoon trade as FOMC result awaited 