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Position Squaring Weighs on the US dollar Ahead of the Jobs Report
Overview: While equities continue to march higher, the dollar is softer amid position squaring ahead of the US jobs data. Gold has stabilized after yesterday's shellacking. Estimates for US nonfarm payrolls appear to have been creeping higher, encouraged by the ADP, PMI, and weekly initial jobless claims. A robust report today could bolster the dollar, as the short-term trading community still seems short. After the S&P 500 and NASDAQ made new record highs yesterday, Asia Pacific bourses, except for China, advanced. Japan, Australia, and South Korea's main benchmarks rose by more than 1%. Europe's Dow Jones Stoxx 600 ... (full story)