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Fundamental Currency Analysis

Fundamental Currency Analysis

Fundamental Currency Analysis

October 03,  2014    Guest post by Jay Hawk at Orbex.

USD: The U.S. Dollar Index is higher today, gaining +0.1840 or +0.21% to 85.7850 after opening the day at 85.6240 in Asia. The Greenback is gaining as improving U.S. data continues priming the market for higher U.S. interest rates. Supporting the Dollar were mixed economic numbers yesterday, including Weekly Initial Jobless Claims, which declined to 287K compared to a previous reading of 295K and beating analyst expectations of 299K. Also out yesterday were Factory Orders, which declined -10.1% versus an anticipated decline of -9.4%. Later today will be this week’s U.S. highlight, monthly Non-Farm Employment Change (+216K), the Unemployment Rate (6.1%), the Trade Balance (-41.0B), ISM Non-Manufacturing PMI (58.5) and Average Hourly Earnings (+0.2%).

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