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My Home About Me Profiting With Forex Falling Risk Pauses The Market But The Eur/usd Still Looks Good Posted on 01/07/2008 07:41:32 | Link | Post Comment Today, everyone is talking about the ADP report and what it forecasts for Friday's release. The numbers came in very low with a big drop to 40K new jobs compared to 173K last month. However, the number is still positive and considering the sampling methods used, it doesn't seem to be a major warning sign of anything yet. It is not a shock that we are getting some bad news about the USD. How bad today's report really is, is hard to say but it certainly is in line with expectations. Stocks are mixed and that has helped the carry trade pull back from some overnight lows. With the addition of rising yields, we may get a pause in some of the recent movements in the market. The USD still looks weak but the drop in oil prices continues to push the GBP/USD down and will likely keep the commodity currencies volatile. A break above resistance on the EUR/USD still looks like a good buy opportunity. << My Home | The FX Markets Blog Home

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