The euro was unable to hold above 1.05 after NFP data bolstered the USD ahead of a relatively quiet week.
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The euro was unable to hold above 1.05 after NFP data bolstered the USD ahead of a relatively quiet week.
from DailyFX – Market News https://bit.ly/3h09Mno
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The US Dollar saw its worst month since September 2010 as the markets aggressively priced in a dovish Federal Reserve down the road. A tight US jobs report hints that USD’s move might be overdone.
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The Australian Dollar stretched higher with the US Dollar copping a flogging following not hawkish enough comments from Fed Chief Powell. Will AUD/USD make a new peak?
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Sterling is going to need to do some heavy lifting to keep GBP/USD moving higher, and next week’s economic calendar is of little help.
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Capital markets attempted to retake control this past week on a Fed-driven charge, but the effort fell apart before hitting critical moment. The Dollar’s slide on the other hand is still on the verge of technical progression. Yet, momentum will compete with distraction around the following week’s Fed and ECB rate decisions.
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