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U.S. Dollar Slightly Advancing Before Non-farm Payrolls Data
May 2, 2014 9:05 amVideo
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May 2, 2014 – Forex News
Hot Asset For Today: EUR/USD
After dropping yesterday, the USD/JPY is on the rise today in anticipation of the Non-farm Payrolls data. Due to strong US manufacturing data yesterday and strong ADP Non-farm employment change data earlier in the week, many are predicting that today’s report will be bullish. Thus, it would not be surprising to see continued upward movement for a while before the release of the data. Though there is upward pressure on the yen from better than expected Household Spending data from Japan, today’s events in America will be the primary source of movement for the pair. Look for support at 101.95 and resistance at 102.77.
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