POST NFP FOREX TRADING
After nfp dollar soared and all the currencies on the backfoot but nfp was not that positive for the dollar as June nfp number was revised lower from 75 to 72k and the unemployment rate ticked up from 3.6 to 3.7 but it was a move of other currencies weakness.
Eurusd was hit hard and was trading at 1.1226 and with euro news which was negative throughout the week, we think this weakness in euro will continue and a chance of 1.1100 is quite obvious by looking at the dollar strength.
AudUsd and Nzdusd both are looking vulnerable for more losses because of there central banks. Policy matter on both the sides suggest that rate cuts are along the corners for both the currencies and that is why we think they both will suffer losses against USD.
After nfp dollar soared and all the currencies on the backfoot but nfp was not that positive for the dollar as June nfp number was revised lower from 75 to 72k and the unemployment rate ticked up from 3.6 to 3.7 but it was a move of other currencies weakness.
Eurusd was hit hard and was trading at 1.1226 and with euro news which was negative throughout the week, we think this weakness in euro will continue and a chance of 1.1100 is quite obvious by looking at the dollar strength.
AudUsd and Nzdusd both are looking vulnerable for more losses because of there central banks. Policy matter on both the sides suggest that rate cuts are along the corners for both the currencies and that is why we think they both will suffer losses against USD.
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