The dollar posted gains versus other major forex trading currencies partly because of a US holiday (Columbus Day). Despite the gains posted by the USD however, the currency did not enjoy positive sentiment as investors are still worried about the results of the policy meeting of the Federal Reserve. Dow Jones and NASDAQ both posted stable results, with the Dow Jones going up by 0.03% and the NASDAQ increasing by 0.02%. As for the commodities market, it posted mixed results as gold reached a new high, going up by 0.7% to close at $1,354.40 per ounce, while crude oil went down by 0.9% to close at $81.90.

The euro went down versus the dollar. This decline is probably a correction on the EUR/USD forex trading pair since according to technical indicators, this pair reached an 8-month high last week. The EUR/USD pair’s momentum for the EUR remains bullish, although it has fluctuated within the 1.3900 level for the past 3 days. This forex pair exchanged at a high of 1.3999 and a low of 1.3866.

After non-farm payrolls posted worse than anticipated results at -95k versus 1k, the dollar fluctuated versus most forex trading majors. The Federal Reserve may be purchasing more debt as a consequence of last Friday’s data. The US stock markets posted gains, with Dow Jones and NASDAQ going up by 0.53% and 0.77% respectively. The commodities market also posted gains, with gold going up by 0.7% to close at $1,345.3 per ounce, and crude oil increasing by 1% to close at $82.66 per barrel. As for the Unemployment Rate, it posted better results than what was anticipated, at 9.6% versus 9.7%.

The euro continues to post gains versus the dollar. EUR was boosted by the expected increase in job cuts in the US, which led to speculations that the Federal Reserve will purchase more debt. The EUR/USD forex pair has reached the 1.4000 level numerous times, and this level has been the pair’s resistance level on the daily chart. This forex pair exchanged at a high of 1.3984 and a low of 1.3832.