Trump launches missiles, NFP disappoints but unemployment drops & greenback rallies
The USD rallied on Friday evening on a spike in treasury yields following Fed comments and the unemployment numbers (4.5%). However, the USD index is approaching key resistances levels in EUR/USD hovering around support. Thus early trade this week will be key in ascertaining whether momentum remains with the Greenback. Janet Yellen is speaking on Tuesday morning (AEST) and may take the opportunity to clarify the Fed’s stance on monetary policy. Obviously geo-political factors could also be big market movers with the fallout of Friday evening’s missile strike still unclear. Locally Thursday’s unemployment number and Chinese Trade will be the data highlights of the week.
- Dudley’s comments see treasury yields/USD climb
- US missile strike overshadows Trump Xi meeting, meeting so far viewed as constructive
- USD bid re-emerges, but early trade this week in focus
- The US has received support for its unilateral action against Syria thus far
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