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NFP Friday: Victory Jobs?
Another day’s trading, another day of US Dollar strength. We spoke yesterday about market expectations heading into NFP and what that could possibly mean for USD. The thinking was that following Wednesday’s poor ADP number, markets might price in lower expectations for NFP tonight. We’ll see where we end up heading into the release, but in early Asian trade, EUR/USD has pulled back to re-test previous resistance as support in the dead middle of an hourly range that has formed over the past month. Price isn’t making things easy for us lately in assessing which side poses the greater risk when it comes to ... (full story)