Frank Walbaum
FX Strategies.Asia
Important news for the week:
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Wed, 09th, 03:00 CET NZ RBNZ interest rate decision.
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Thu, 10th, 14:30 CET US Core cpi/unemployment claims.
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Fri, 11th, 14:30 CET US Unemployment rate/producer prices.
NFP aftermath
The Nonfarm- payrolls came in way stronger than expected causing the Dollar to gear up steam. Most currencies lost momentum against the Greenback and might turn lower this week as the jobs report revealed more than 100.000 newly created positions compared to the expectation. Stock markets in Asia have started with positive moves and this might also continue during European trading at the start of the week. Further rate cuts from the Fed might be limited now, though, as the health of the economy seems to be intact currently as well.
Market talk
With the stronger Dollar also precious metals lost some steam leading to a slight correction. As the general trend remains intact further moves might depend on the geopolitical tensions moving forward. This also seems to impact oil prices currently as they continue to run higher. The USD 80.00 remains in sight for now. With the strength of the Dollar also the USDCHF currency pair might push higher and the CAD might gear up steam against the EUR in particular, causing the currency pair to fall. The weakness of the Japanese Yen seemingly has returned for now, with most JPY pairs running higher.
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