The dollar headed for a weekly loss against the euro in Forex Trading Bonus and the yen before a U.S. report forecast to show American employers cut jobs last month, damping demand for assets in the world’s largest economy.
The euro traded near a two-week high versus the dollar before a European report today that economists said will show retail sales in the region rose for a third month. The yen fell against higher-yielding currencies after Ichiro Ozawa, who is challenging Japan’s Prime Minister Naoto Kan in this month’s race to head the ruling Democratic Party, said intervention in currency markets to stem the yen’s gains is a possibility.
U.S. payrolls fell by 105,000 in August, after dropping by 131,000 the prior month, according to a Bloomberg survey before the Labor Department report today. The jobless rate climbed to 9.6 percent from 9.5 percent, a separate survey showed. Retail sales in the euro area gained 0.2 percent in July, matching the previous month’s gain, another Bloomberg survey showed.
Copper futures in Shanghai may climb to 64,000 yuan ($9,412) a metric ton by the yearend, a level not seen since the collapse of Lehman Brothers Holdings Inc. in 2008, Cifco Research Institute said, citing trading patterns.
Copper has completed a so-called bull-flag pattern, with support at 58,000 yuan, and may break through resistance at 60,000 yuan, the company’s Beijing-based researchers Zeng Ning and Shen Dan, wrote in a note yesterday. In the formation, which occurs during periods of gains, price movements are meant to resemble a flag on a pole. https://www.tradeviewforex.com/trading/open-account-bonus-Bonus-Enrollment-landing.aspx