US Dollar Index to climb back to 113-114 after NFP report – ING
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The dollar rebound has gained further steam into today’s Nonfarm Payrolls risk event. According to economists at ING, NF P may add fuel to the dollar recovery.
“We expect the unemployment rate to stay at 3.7% with payrolls slowing but staying above 200K. We think the dollar rally in the past two sessions was simply a reversal of the previous correction, and not necessarily linked to rising expectations around a very strong jobs report today.”
“We see more room for USD appreciation today after the payrolls release as markets drift further away from Fed-pivot speculation.”
“DXY could find its way back into the 113.00-114.00 region.”
See NFP Preview: Forecasts from nine major banks, employment trend slows down
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