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July NFM Payroll below expectations.
Friday's July Non Farm Payroll Report showed that an additional 131,000 jobs were lost in July.
Many experts expect a US dollar rebound this coming week since it hit bottom at 80.21 last friday after the NFM report was out.
Currencies to watch out for this week: USD/JPY
Reason: There are indications Bank Of Japan may intervene if YEN becomes too strong and hurts exports.
Reason: CAD weakened after unemployment increased last month from 8.5 to 8.7%
Long term US $ index is bullish but short term bearish. US Feds meet tomorrow.Interesting to see if they are going to implement more strategies to deal with the stubbornly high unemployment figures.
All the best for this week!!
Your friendly forex trader
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