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How long could a technical rally on EUR/USD last?
Whilst the headline figure for the Non-farm Payrolls report remained strong, the devil was in the detail of the 0.2% decline in average hourly earnings. This shows that the Fed still has to get a grasp on disinflationary pressures and it reduces the likelihood of any potential early rate hikes. The dollar has since come under a bit of corrective pressure and it remains to be seen whether this is a near term situation or whether there is any longevity to it. In forex trading there are slight gains for the euro, the yen and the Aussie dollar, whilst interestingly as well, the gold price is also hanging on to the gains ... (full story)
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