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Dollar Finishes Mixed Ahead of Tomorrow’s U.S. Employment Report

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Dec 4, 2009.

  1. forextrends24

    forextrends24 New Member

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    Today’s sample of Forex Analysis from ForexHound.com

    The U.S. Dollar closed mixed on Thursday against most major currencies on light volume as traders fled shortly after the U.S. initial claims number and ahead of tomorrow’s Non-Farm Payrolls report. Trading was so thin that even a late session sell-off in U.S. stock indices could not fuel a robust close in the Dollar index.

    The U.S. Dollar Index withstood another test of the low for the week early in the trading session at 74.31 and last week’s low at 74.27. The higher close is impressive, but this market is still lower for the week. Start to consider the long side of this market if last week’s close at 75.04 can be regained.

    The EUR USD rallied early in the session following the announcement from the European Central Bank that it would begin withdrawing its stimulus money from the Euro Zone economy, but backed-off last week’s high at 1.5144 when ECB President Trichet called for a stronger Dollar.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.
     
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