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"The stakes are unusually high for this employment report [non-farm employment change], as it will be the last major piece of labor market data before the Fed meets later this month."
- TD Securities (based on WBP Online)
Pair's Outlook
On Thursday, the Greenback sustained minor losses against the Japanese Yen, as anticipated. The weekly PP was tested, but trade still closed slightly above the 120.00 major level; however, the given PP risks being pierced today, despite having kept the USD/JPY from declining through the week. Poor labour figures are likely to push the US Dollar deeper down all the way to 118.00, as that would delay the interest rate hike. Conversely, strong data could boost the Buck above 121.50, reaching the highest point in the last two weeks.
Traders' Sentiment
Bullish SWFX traders' sentiment improved today, as 60% of all positions are long (previously 56%). Meanwhile, the number of purchase orders slightly diminished, taking up 48% of the market.
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