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Non-Farm Payroll Figures Spur USD Jump

Discussion in 'Major Currency Pairs' started by alessio, Aug 10, 2009.

  1. alessio

    alessio New Member

    Aug 10, 2009
    Likes Received:
    The release of Non-Farm Payroll data on Friday brought extreme volatility on the Forex market spurring high rise for USD. This news paved the way for Dollar strengthening positions, in other words the greenback is beginning to benefit from optimistic economic news. The week was ended against the EUR at 1.4181 much lower than the weekly high of 1.4447. The same drop occurred in GBP/USD currency pair.

    The immediate effect of the NFP figures was a strong rise priced in for the Dollar, but the long-term trend will likely be a continuation of the bearishness experienced over the previous two weeks. While some technical analysis experts state that the recovery began prior to last week, this is less likely to be the case.

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