May 3’s nonfarm payrolls data are likely to be the week’s main trading event, with more scope for shocks than the Fed call. Continued strength in the data will underline the US economy’s resilience and could see rate-cut bets pushed even further back. It will probably take a considerable downside surprise to see them brought forward.
This channel has been quite well respected. The rate closed just about exactly on it on April 22, setting the stage as it turned out for subsequent strong gains. The channel base now offers support at 1.2301, but that doesn’t seem to be in much immediate danger of a near-term test.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DailyFX - 🏆 305. / 63 Read more »