Tuesday February 7, 2006 - 06:25:08 GMT
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Tricom Futures and Foreign Exchange -
Forex: No data, means No movement
The US dollar was trading weaker against the major currencies, but is expected to hold yield support over the week in the absence of key data releases.
The dollar was bought overnight on increasing expectations of further rate hikes in the US following the strong jobs data released last week.
In the absence of market moving data today, look for the USD to remain well supported. The upside maybe limited as the market awaits further data, but longs would be equally reluctant to close out their positions just yet.
Today's Economic Release:
Today's Top Trades
- Sell EUR/USD around 1.2000-1.2010, with stops above 1.2060
For more ideas send me an email, [email protected]
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