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Today NFP report is to be published at 12:30 GMT from US.
What is NFP report?
Key highlights –
Impact –
Better than expected wage growth would be key for Dollar’s strength. Any wage growth above 2.5% will bring the focus on faster rate hikes. Better payroll can also boost sentiment for equities.
Morgan Stanley however has forecasted weakness in Dollar today and expects Euro to reach 1.16, while yen to drop to 103 in second quarter. Morgan Stanley feels, both European Central bank and Bank of Japan are running out of policies to fight deflation and higher exchange rates.