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DOLLAR BULLS REJOICE! JOBS DATA SENDS CURRENCY SOARING!
SENSATIONAL JOBS REPORT SHATTERS EXPECTATIONS!
This morning, the financial world was rocked by a mind-blowing 37K jobs added, obliterating forecasts of just 110K! Coupled with an unexpected dip in unemployment to 4.1%, down from 4.3%, and a less-than-scary increase in hourly earnings, the fears of stagflation have temporarily vanished like a ghost at a séance!
MARKETS BRACE FOR IMPACT!
While the U.S. stock indices remained on edge ahead of the anticipated ISM Services data at 10:00 (predicted at 50.5), one asset has struck like a lightning bolt: the Dollar!
DOLLAR INDEX ROCKETS!
The Dollar Index (DXY) launched up by nearly 600 pips right after the NFP data hit! It’s currently flirting with the 200-Hour Moving Average, and analysts are buzzing about the potential revival of the dollar’s fortunes, all thanks to the pivotal 96.50 swing low.
As the dollar consolidates around the 97.00 support zone, traders are holding their breath, hoping for a breakout past 97.50 that could smash through the 2025 Descending Channel and catapult prices to the thrilling 98.00 barrier!
USD/JPY ON A TEAR!
In the latest market frenzy, the USD/JPY soared 1,000 pips following the data blast! It’s currently dancing with resistance at 145.00, and a surge higher could slam into the major resistance zone at 146.00. Watch closely as this rollercoaster ride continues!
CABLE IN A TIGHT SPOT!
Meanwhile, the GBP/USD could be heading for a crash landing! Bears are prowling as prices test the critical 1.36 pivot—a breach below 1.3563 might send cable plummeting toward the perilous 1.35 psychological zone!
EURO TURBULENCE: WHAT’S NEXT?
For the Euro, it’s not all sunshine and rainbows! Price fluctuations around the 1.1765 pivot could spell disaster or recovery. Bulls need to charge past this level to safeguard their mid-May upwards trend, while any slip could push them down to the 1.17 support.
TRADERS, HOLD ON TIGHT! The markets are wild, and every second counts! Safe trades, but remember: fortune favors the bold!
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