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Playing the U.S. Dollar's Current Rally
After hawkish talk from Fed officials Plosser, Fisher, and Bullard, the dollar has taken a fresh new stab at the resistance along 76.60 to 76.70 on the U.S. Dollar Index. This is important to consider when the bearish Directional Bias on the USD/CHF is possibly transitioning and the EUR/USD is testing uptrend line support. This week - is fundamentally - an interesting one with ADP Non-Farm Employment number kicking off the countdown to Friday’s Non-Farm payroll which is expected to come in at 191k. Thursday is the EU bank stress test and Portugal’s debt rating was hit a second time in less than a week so a ... (full story)
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