It’s All About The Details
The sharp rally in the Dollar Index futures was short-lived, as data for the November Non-Farm Payrolls report failed to live up to positive headline figures. Dollar bears may become enthused on what appears to be a technical price reversal on the daily chart.
“Trade first, ask questions later!” seems to be the mantra of many currency traders, as better than anticipated U.S. payrolls figures for November sparked a rally in the U.S. Dollar. The Labor Department reported U.S Non-Farm Payrolls rose by a better than expected 146,000 jobs last month, which was well above some analysts’ estimates for a gain of 85,000.
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