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NFP: Dollar Brake or Gas?
Today’s key event, US non-farm payrolls, will determine the direction of the dollar and all the other asset classes. The stronger than expected US data that’s been released over the past week has definitely raised market expectation to new heights for this morning’s labor release. With the Fed not including any “tapering bias” in their mid-week statement, they have managed to increase the influence that the market will be placing on the labor market data between now and their mid-September meeting. Strong labor market data today would be broadly supportive of a potential September taper. The fixed income ... (full story)