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Forex Flash: NFP at 150K would benefit the EUR – Danske Bank

The single currency continues its march north on Friday, climbing to levels shy of 1.3680 during the European morning although retracing some ground afterwards.

In light of January’s US Non-farm Payrolls, analyst A.von Mehren at Danske Bank assessed “We look for a decline in non-farm payrolls to 150K, which is somewhat lower than consensus that estimates a rise to 160K. If we are right, a low NFP number underlines that a scale down of the Fed’s QE programme is far from imminent and should be EUR/USD positive”.

Forex: USD/CHF hits 9-month low ahead of NFP

The dollar extended losses versus the franc on Friday, as it did versus the euro, and fell to its lowest in 9 months ahead of the so-awaited US jobs report.
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Gold trading at $1664.00

Gold has traded in a near-term consolidative mode, following yesterday’s sharp sell-off. According to Slobodan Drvenica an analyst at Windsor Brokers Ltd., “A confirmation of failure swing, seen on a break below 1674 base has accelerated losses to 1657 so far and retraced over 76.4% of initial 1652/1683 recovery rally. With near-term studies being negatively aligned and corrective attempt lacking momentum for more significant gains, the downside remains in near-term focus.
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