By CountingPips.com
The US dollar has been mostly gaining ground in forex market trading today against the other major currencies. The dollar has been on the rise so far today against the British pound sterling, Japanese yen, Swiss franc, Australian dollar and the New Zealand dollar while losing ground to the euro and trading close to unchanged against the Canadian dollar, according to currency data by Oanda in the afternoon of the US session.
The US stock markets, meanwhile, are having a winning session today with the Dow Jones Industrial Average gaining by over 150 points, the Nasdaq increasing close to 50 
points and the S&P 500 up by approximately 20 points. In commodities, oil has traded a bit lower to $100.55 while gold has lost $21.00 to trade around the $1,416.00 per ounce level.
Positive jobless claim news out of the US today has helped boost stocks as initial jobless claims fell to over a 2 1/2 year low and followed up yesterday’s better than expected ADP private employment report. The most important jobs report of the month is out tomorrow with the government’s nonfarm payrolls expected to show a rise of 185,000 jobs for February.
Euro jumps on ECB comments
The euro has been the big gainer on the day in the currency markets as European Central Bank president Jean-Claude Trichet commented that interest rates could rise in the euro zone by as early as next month. The comments came after the ECB decided to hold its interest rate steady today and prompted sharp buying of European common currency.
EUR/USD Daily Chart – The EUR/USD has continued its recent climb and today reached above the 1.3900 level for the first time since early November 2010.
