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NFP Preview: US Dollar Bounce Potential if Jobs Data Doesn’t Disappoint

NFP leading indicators point to a slightly above expectation reading in this month’s NFP report, with headline job growth potentially coming in somewhere in the 175-225K range.

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EUR/USD on the ropes as US dollar bears back peddle

EUR/USD seems primed for a retest of 1.08 after USD dollars bears were forced to retreat, as the 'higher for longer' narrative returns to the scene.

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May 23, 2024 06:03 AM
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USD ‘rebound’ lacks the enthusiasm of last week’s selloff: Asian Open

The US dollar may have risen for a third day, yet bulls lack the conviction that bears displayed last week. And that suggests this bounce could be corrective.

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May 8, 2024 11:28 PM

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NFP Preview: US Dollar Bounce Potential if Jobs Remain Strong

The US dollar is testing support and the NFP leading indicators point to a slightly above expectation reading this month, with headline job growth potentially coming in somewhere in the 200-250K range

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FOMC Meeting Recap: US Dollar (DXY) Drops as Powell Feeds the Doves

The US dollar initially fell and indices rose as traders interpreted the Fed meeting and press conference as dovish.

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FOMC Meeting Preview: Will the Fed Put Rate Hikes on the Table?

US dollar traders will be watching Fed Chairman Powell’s press conference and any decisions about the central bank’s balance sheet runoff as potential market-movers for the US Dollar Index (DXY)

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April 30, 2024 06:21 PM

US dollar ponders correction as bond prices approach support

The US dollar has risen around 6% from the late December low. And with bond prices approaching support which could send yields lower, the US dollar rally could at least find some headwinds - if not a retracement.

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April 18, 2024 07:20 AM

NFP Preview: Another Hot Jobs Report on Tap? DXY in Focus

The US dollar is sitting in the middle of its 3-month range with leading indicators pointing toward slightly above expectation reading in this month’s NFP report, with headline job growth in the 200K-250K range.


US dollar, USD/JPY, gold performance around Nonfarm payrolls (NFP)

Data since the Pandemic shows that NFP job growth has generally outperformed estimates and seen the prior figure upwards revised, which has played out well for US dollar bulls.

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April 4, 2024 06:27 AM
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NFP Preview: Is the US Dollar Poised for a Bounce Back?

After slipping for the past three weeks, the US Dollar Index is testing key previous support at the 103.00 level, potentially setting the stage for a bounce on solid jobs data.


Gold Price Forecast: XAU/USD Bulls Respond to First 2024 Test Below $2k

Gold has been resilient so far in 2024 even as USD strength re-appeared. The big question now is whether bulls can find a more favorable outcome on tests of resistance at $2,032 or $2,050.

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February 17, 2024 02:00 AM
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U.S. Dollar Price Action Webinar: DXY, Gold, Bitcoin, FX Majors

The U.S. Dollar set another fresh high yesterday, extending the bullish structure that’s priced in so far this year.

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The U.S. Dollar broke out and set another fresh 2024 high this morning as the currency continues to claw back Q4 losses.

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Dollars and Sense: The Short-Term Case for US Dollar Strength

How interest rate differentials, scarcity, and falling liquidity could work together to boost the US dollar

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February 6, 2024 02:32 PM
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NFP Preview: Why the US Dollar Could Be More Volatile Than Usual

The recent consolidation in the US Dollar Index and the Fed’s renewed data dependence could lead to a more-volatile-than-usual reaction in the US dollar.

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February 1, 2024 04:02 PM

US dollar pares earlier losses, gold bears eye $2000: Asian Open

Price action on the US dollar remains choppy, but the bias remains for a run for 104. And that could weigh on gold as bears eye a run towards $2000.

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January 24, 2024 09:17 PM

US dollar bulls resurface, ASX 200 tests well for today: Asian Open

The US dollar shows the potential to continue higher despite a wall of key moving averages. And according to forward returns analysis, the two days prior to Australia Day tend to bode well for the ASX 200.

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January 23, 2024 10:25 PM

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USD: Behind the U.S. Dollar, the Global Reserve Currency

The U.S. Dollar plays an incredibly important role in the global economy and while ‘De-dollarization’ claims may pop up, the currency set a fresh all-time-high for usage last year and remains the world’s primary reserve currency.

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USD bears have a rethink, GBP and AUD positioning diverges: COT report

The US dollar index rallied in line with last week’s bias on assumed short-covering. AUD/USD bears are retuning whilst traders pushed net-long exposure higher, making GBP/AUD longs of interest over the coming weeks.

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Gold remains in demand, but less so against the US dollar

Gold is currently down -1.8% in January, and I see further downside potential due to the growing case for a stronger US dollar. But that doesn’t mean gold will fall against everything by the same degree, if at all.

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January 17, 2024 04:29 AM

Strong payroll data doesn’t deter equity bulls with Nasdaq up and Russell 2000 down

Today’s payroll data reiterated the run of strong labor market data with wages growing at 4% a key concern for the Fed. Futures markets reduced the probability of early rate cuts, but traders made few changes to their bullish stance on equities, bonds, gold or the dollar.

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Euro Technical Forecast: EUR/USD Bears Show Up to Ring in the New Year

EUR/USD was range-bound for much of last year but there were still multiple shorter-term trends to pick on. With markets geared up for cuts to begin this year, could EUR/USD push into a larger-scale trending condition?


Dow challenges peak, Bitcoin’s mainstream moment is expected

The Dow Jones has quickly shaken off yesterday’s late losses is challenging record highs despite the comedown of the Fed minutes yesterday. The market remains optimistic over the state of the US economy, supported by today’s various jobs sector data releases; the flip-side is that too much strength could slow the pace of interest rate cuts with the Fed “likely at or near its peak rates” according to December policy meeting minutes yesterday. The Bitcoin rally will be tested pretty soon, as the SEC is intended to approve (or not) Bitcoin ETFs.