The USD was in consolidation/ correction mode this week ahead of the NFP. This is in a sense the market’s way of paring some overextended USD gains, but also offers a chance for the market to continue with greenback strength
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Weekly Technical Update: Greenback Weakened Post Non-Farm Payroll
The past week began with disappointment stemming from Japan’s lack of direct currency intervention and risk aversion looked probable to continue into the week.
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Risk Rebounds on Improving Global Data
The strong rally in risk into today’s close in the US today can’t be about this week’s economic data particularly as the ISM non-manufacturing index for August showed a steep deceleration. So why the rally? The combination of an equity rally and a lousy ISM resulted in the predictable
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Is this an Audacious Obama Hope Rally?