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FX MARKET NEWS MARCH 3, 2017 ( PHILIPPINES TIME)

The dollar index surged yesterday morning to nearly 102 level on the revised Fed hike expectation, which was bolstered by another Fed official (Bainard) saying a hike might be appropriate “ so”on.Ironically, the Dow rose over 21000 for the first time ever, when equities “should” fall on rising rates.
The 10-year yield jumped on an opening gap yesterday to close at 2.463% and is higher again this morning at 2.465%, This is more than just “Yes, March.” It has a foundation in the PCE price index fo…
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EURO/USD OUTLOOK

The euro high on Monday was 1.0631 and Tueday , the high was 1.0630—rounding off that stupid 5th decimal place. This is a failure to match -and-surpass and sure enough, the Dudley remark and ensuing rise in yields and Fed funds probabilities turned the market against the euro. It has now retraced more than 62% of the rise off the Feb 22 low at 1.0492 and may be testing the downside next.
Happy Trading!..
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MARKET NEWS

The dollar index rose yesterday ahead of the Trump speech to Congress and is hanging on to gains
after hitting a 7-week high, despite the speech being “long on promises but short on detail,” as Reuters puts it.
The FT reports the Fed trumped Trump--the bigger news was NY Fed Pres Dudley saying we don’t need to wait for fiscal plans—the case for the March hike is “more compelling.”


The FT writes “The probability of a rate increase in March climbed to 74 per cent on Tuesday afternoon, shortly …
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