Financial Trading
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USD made a storming recovery yesterday following an FOMC induced sell-off. With Big Tech stocks on Wall Street sharply lower, risk appetite is negative ahead of today’s Nonfarm Payrolls report.
After another big upside surprise in US CPI, markets are increasingly pricing for a potential 100 basis points Fed rate hike in July. The USD has strengthened once more and this is weighing across asset classes.
Several factors have combined in the early part of the week to encourage a more positive outlook for major markets. This is weighing on the USD whilst indices rebound.
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