Dollar sentiment is clearly negative now

[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?

[wozdan]

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?

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

[4X4X]

Good reply, let's c where will it head :-)

[psytrader]

Originally Posted by wozdan

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

Oil rally?,......I agree completely, only I prefer to paraphrase as follows:

"If oil continues to break new records."

GM, Hummer, Ford, and Daimler-Chrystler are sucking the life blood out of America.

This new energy bill isnt going to help either.

Were not supposed to use profanity on this site so Im going to get off the pseudo-subsidy thing.

[psytrader]

I have a poll idea

How do I start a poll on here?

PSY

[michlou]

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?

I don't really agree. It seems everything has moved so far so quickly that things need a bit of reset before continuing. In the coming days if the GBP can hold above 1.7911 then sentiment may have changed otherwise it is a sideways market.

[vanhuel]

I agree with the comments about oil but other economies are reliant on it as well - Japan for one.

However, I don't believe NFP is the market mover it used to be. We have other data this week FOMC rate decision (Today), trade balance on Friday.

Maybe the market will wait for all the facts to come in before deciding where to go.

[cogia]

Fed hike rate didn't help for USD, cause the news have known well by market. So, all we need to do today: just wait and short as hight rate of:

EUR : 1.2385 sl 1.2410 tp 1.2320
GBP : 1.7920 sl 1.7945 tp 1.7815
JPY : 111.15 sl 110.90 tp 111.85

today, we will also have the news of Statment Budget of US with negative sentiment.

Good luck !