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Forex Flash: NFP figures could portend monthly fallout for USD – BTMU

FXstreet.com (Barcelona) - The direction of the dollar will of course be determined by the non-farm payrolls report, released today. According to the BTMU Research Team, “The 119k gain in the ADP along with all the other variables we use in our NFP model have given us an estimate for today of 104k.”

That is roughly consistent with the ADP reading and some government job losses. There may be a slight upside risk to this prediction given the 88k reading in March might have been excessively weak, allowing for some degree of giveback today. Moreover, “We suspect a range of 100k-140k would be broadly neutral for the dollar, especially given most other major central banks have either eased or are expected to over the coming months.” they add.

Forex Flash: Central banks mull ramifications of QE – BMO Capital Markets

At the top of the macro economic "food chain" inside of the policy sphere, there remain two diametrically opposed paradigms at present, which we think are having an impact on FX markets in general, but for our purposes here the EUR. The Fed, BoE and BoJ have started with QE and will presumably over time wean themselves off of it.
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Forex: USD/JPY still above 98.05

The USD/JPY topped its European morning trade at 98.25 high before pulling back, but remaining supported above 98.05. After peaking at 98.89 high in April 21, the pair has been under a corrective movement that reached as low as 97.02. Yesterday, the USD/JPY jumped to 98.39 and closed higher for the first time in 7 days. The market is edging higher today again, ahead of the US NFP report.
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