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Fundamental Currency Analysis

Fundamental Currency Analysis

October 01, 2014      Guest post by Jay Hawk at Orbex.

Fundamental Currency Analysis

USD: The U.S. Dollar Index is currently up +0.0370 or +0.04 percent to 85.9730 after opening the day at 85.9360 in Asia. The U.S. Dollar is trading higher against all seven of its major counterparts in anticipation of employment and manufacturing data out later today, which if better than expected, would make a stronger case for the Fed raising interest rates. The Greenback is higher despite yesterday’s release of Chicago PMI, which printed at 60.5 compared to an anticipated reading of 61.6, and CB Consumer Confidence, which showed a reading of 86.0 versus an expected print of 92.2. U.S. economic numbers to be released later today include ADP Non-Farm Employment Change (207K), ISM Manufacturing PMI (58.6) and Crude Oil Inventories (+0.6M).

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