# Forex Major Currencies Outlook (February 7, 2014) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-february-7-2014/ Language: en Updated: 2014-02-07 Description: Explore Forex Major Currencies Outlook (February 7, 2014). USDThe. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar was stuck in consolidation against most of its major currency counterparts, although US data came in weaker than expected yesterday. Preliminary non-farm productivity was higher than expected for the previous quarter so unit labor costs for the same period were understandably lower, which means that laborers had a smaller take-home pay for the three months up to December. Today the non-farm payrolls report is up for release and might show a rebound from the bleak December figures. However, cold weather conditions still affected several US states in January, which could lead to another weak jobs report. **EUR** The euro had a brief rally after the ECB interest rate statement, as Draghi sounded less dovish than usual. He pointed out that interest rates will remain low for an extended period of time but remarked on the improving business conditions. Other policymakers also dismissed the possibility of deflation weighing on overall economic performance. German trade balance and French government balance are the only reports due from the euro zone today, as the NFP might play a bigger role in EUR/USD price action. **GBP** The pound moved sideways in yesterday’s trading, as there were no surprises in the BOE rate statement. The central bank decided to keep interest rates and asset purchases unchanged for the meantime, even though there have been considerable improvements in the UK economy. Manufacturing and industrial production reports are lined up for today, along with the trade balance release. **CHF** The franc formed a tighter consolidation pattern to the dollar yesterday when Swiss data came in mixed. The SECO consumer climate figure jumped from -5 to 2, surpassing the consensus at 0 and indicating improving consumer confidence. However, the trade balance missed the forecast and showed a smaller than expected surplus while the previous month’s figure was revised down. Swiss foreign currency reserves and retail sales data are up for release today and might show improvements, which could then support the franc. **JPY** The yen was beaten up by the improvement in risk sentiment in recent trading, as there were no reports from Japan for the currency to draw support from. Only the Japanese leading indicators figure is up for release today and it might show a small improvement from 111.1% to 111.9%, which could be positive for the Nikkei and risk sentiment. **Commodity Currencies (AUD, NZD, CAD)** The comdolls had a mixed performance in recent trading, with the Aussie ending positive and the Kiwi ending in the red. The Loonie consolidated to the dollar despite the strong Ivey PMI figure since data from the US came in weak. The Ivey PMI climbed back above the expansionary level, which helped keep the Loonie afloat. Canadian jobs data is up for release today and a 19.7K rebound in hiring is eyed. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-february-7-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-february-7-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-february-7-2014/", "headline": "Forex Major Currencies Outlook (February 7, 2014)", "inLanguage": "en", "datePublished": "2014-02-07T12:46:17+00:00", "dateModified": "2014-02-07T12:46:17+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (February 7, 2014). USDThe. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-february-7-2014/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "Forex Major Currencies Outlook (February 7, 2014)", "item": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-february-7-2014/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```