FXstreet.com (Barcelona) - After Thursday's employment readings at US, and with a bank holiday in the front, Asian stocks have retreated on Friday. A slow data on Japanese retailers has also fueled the loses. Japan's Nikkei 225 has fallen 1.0%, while Australia's S&P/ASX 200 gone down 1.4% and South Korea's Kospi Composite off just 0.2%. For the week, the Nikkei and Topix are set to lose 1.1%. Chris Weston, institutional trader at IG Markets, thinks that "there was no real inclination by investors to take big positions. People are now waiting for the US earnings period, which kicks off with Alcoa on Wednesday."The dollar edged up as investors favored it as a safe haven against other much riskier currencies. Analysts at Mataf.net said that "EUR USD is in a consolidation after the last bearish movement. The volatility is high."The pound was poised for its first weekly loss in a month against the dollar on speculation that UK services PMI data will show that the worst of recession is not over yet.Euro was near a one-week low versus the dollar and now will find a main support at 1.3950 where correction is possible. "Break would give 1.3938, where correction also may be. Then follows 1.3910. Break of the latter would result in 1.3897. If a strong impulse, we would see 1.3860. Continuation will give 1.3843," says Nikolajs Serikovs, analyst at FXtechtrade.For more information, read our latest forex news.
