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Market Insight Commentary – Forex
Today's News Headlines
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Market Insight Commentary – Indices
Market Recap
The market was on tenterhook waiting for the NFP data to be released on Friday, for the past 12 months the Fed has seemed to focus on wage growth as the leading driver in inflation and once again the wage data was slightly softer. This should have been the catalyst for the dollar to collapse, but on second glass the report showed unemployment rate at 3.9% – the importance of this is that the Fed will surely not be able to ignore this much longer and we could see another 2 hikes this year.
The EURUSD traded as low as 1.1910 late in the afternoon as the major pairs continue to languish below the 200 day MA. The major pairs benefitted late on Friday evening as we saw what can only be described as profit taking ahead of a week littered with bank holidays.
There is a holiday in the UK this morning so liquidity could be relatively dry.
Important Economic Data Due Today
All Day GBP Bank Holiday
Consensus: None
Effect:
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