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Aussie, NFP and trade of the week update

September 4, 2020 by Mario Soto

The Aussie continues i’ts three day loosing streak falling below 0.7265. This stemming from a three day rally in the dollar index accompanied with NFP Data. NFP is once again expected to perform better than expected after a positive result in August. The US economy added 1.76M jobs in July, a better-than-expected figure, although the ytd job-loss number is still around 13M. Expectation is to see a recovery of 1.4M jobs in August. with unemployment expected to fall a further 0.27%.   Our trade of the week, the EUR/USD has had a slight pullback after trading over it’s 2 year highs of 1.20 pulling back to a daily low of 1.1789. Should the pair holds above 1.1865 we could see a positive shift towards 1.192 followed by 1.1966. On the other side a close below 1.1789 could see a pullback to 1.1696.  

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