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U.S. Jobs Data Continues to Support Dollar

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Aug 11, 2009.

  1. forextrends24

    forextrends24 New Member

    Mar 27, 2009
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    Today’s sample of Forex Analysis from ForexHound.com

    The U.S. Dollar posted gains against most major currencies on Monday in a continuation of the move which began on last Thursday and accelerated on Friday following a better-than-expected U.S. Non-Farm Payrolls Report.

    This strength may continue overnight but a consolidation pattern could begin as early as tomorrow morning in New York when the Fed begins its two-day Federal Open Market Committee meeting.

    Forex traders are beginning to think that market participants are beginning to shift away from a risk appetite driven scenario to a more traditional fundamental scenario where the currency representing the strongest economy dominates the trade. In this case, the perception that the U.S. economy will lead the world out of its recession is making the Dollar appear more desirable.

    Read full article at ForexHound.com as well as Forex Analysis, Forex Education and exclusive timely market Gann Analysis

    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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