Excerpt from: Forex Commentary
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| April 02, 2010 | | Forex trading with the greenback | The U.S. dollar is higher in currency trading on the FX market this morning, thanks to the news that the U.S. economy added jobs. Indeed, the U.S. saw the biggest boost to jobs in three years.
As a result of this news, the U.S. dollar jumped against the sterling and the euro in forex trading, heading higher on stronger economic fundamentals. And there is a good chance that the dollar's gains won't ended today by a risk rally.
GFT's Kathy Lien reports in FX360 on the U.S. dollar:
As for how the dollar could trade for the rest of the day, with
the absence of U.S. equity traders, we did not see the risk rally that
tends to occur near the U.S. equity market open. Based upon how the
dollar traded after the NFP report in April 2007, there is good chance
that the current trend in the dollar will last.
Of course, next week the dollar might drop as risk appetite sets in and investors look for higher returns in high beta currencies.
| Topic Tags: currency trading, euro forex trading, forex trading, jobs, Kathy Lien, U.S. dollar, U.S. economy | |
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