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US Dollar Price Action Setups: EUR/USD, GBP/USD, AUD/USD
It’s been a wild ride in the US Dollar over the past few weeks and given the economic calendar, that looks set to continue with Non-Farm Payrolls coming up on Friday. There’s also a services PMI release on Thursday morning but it’s the jobs report that seems to have so many traders’ attention. This morning’s ADP report printed at an abysmal -310k versus an expectation of +201k. And while ADP is a lousy predictor of NFP, this echoes the circulating narrative that’s starting to expect a negative NFP print come Friday. This could be a stark change from the data that’s driven the Fed into a hiking posture ... (full story)