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Originally Posted by 4X4X
Hello,
Having seen today's move on very positive NFP and associated numbers clearly shows that dollar market sentiment is now getting weaker. What you guys have to say about it?
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Hard to say. I do not think this number is very positive, it's rather neutral as far as expectations were concerned. Be advised that the usuall forecast (today 180k), a median estimate probably made by Reuters is not a proxy for real expectations. Economists are not the investors. Taking into account very good jobless claims thru out July, the levels of the 10-year note, and fed rethoric one should have expected a good report - one which is saying "go ahead with rate hikes" - so read the fomc statement carefully on tuesday. I think then the eurusd's direction will be decided. If there is no new dollar positive developments, the market might be inclined to head lower with the usd especially if oil continues to rally and we see a series of good numbers from europe.
wozdan