According to the latest forex data the USD decreased on Monday after the investors suggested that the economic climate of the USA remained negative one. Thus the USD lost definite power from the positive US housing and consumer confidence numbers last week.
As for the Euro it has increased in expectation of many new reports with economic data from round the world. The final report will be the US payrolls data on Friday. European shares decreased by one percent. This fall was caused by the unclear situation with the European financial firms in the face of a number of new data from Deutsche, HBOS, Unicredit and several others.
This Monday the USD was traded at 108.08 Yen. Due to Geoff Kendrick a currency strategist at Westpac generally the numbers were quite better on the last Friday. Euro added a bit in relation to the USD and reached the point of $1.5760.
So we can see that the Euro increased in spite of the negative numbers expected from the German GfK consumer sentiment index. But according to the experts the low numbers provided by the Eurozone will probably get better as they may follow the US fate.
Furthermore several experts suppose that the US housing market may become better after the Congress will pass a rescue package that should be signed soon. This package will lead to forming of the help fund that will assist homeowners to overcome the housing slump.
However the main attention is paid to the numbers of US jobs and GDP that will be issued on Friday and Thursday correspondingly. It is expected that the GDP numbers will be quite increased but the payrolls report will turn to be low.