Noor Trends News, Technical Analysis, Educational Tools and Recommendations
US employment gain, for September, was not so far rfrom expectations. NFP should be broadly neutral for the USD at this time, in the opinion of economists.
Friday’s data will do much to impact the US dollar’s performance. At a minimum, markets will likely have to wait until the upcoming CPI report for more clues and direction.
The dollar’s resilience is broadly seen to continue into year-end. The currency that is thought of as most vulnerable to the US dollar wrecking ball is the Canadian dollar given its very awful household debt servicing expectations.
On the other hand, markets are worried that a move above 145 in USD/JPY will compel intervention, which could be more likely given upcoming CPI. That could introduce temporary US dollar’s drag. Nonetheless, the USD will continue as best among rivals.
