Article Highlights

  • US JOLTS jobs openings: 5113K vs. 5007K expected
  • US IBD/TIPP economic optimism: 51.3 vs. 49.0 expected, 49.1 previous
  • US consumer credit: 15.5B vs. 12.4B expected, 10.8B previous
  • UK BRC shop price index: -2.1% vs. -1.7% previous
  • BOJ monetary policy decision coming up
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Dollar domination was the name of the game during the U.S. forex trading session, as the currency bulls continued to fade the NFP report move.

Other major economies printed out positive reports, but only a few of them were more compelling than the Fed not being bothered by one month’s worth of NFP data miss. Word around the hood is that last Friday’s weak release is not enough to sway the Fed from maybe hiking its interest rates in mid-2015. Not surprisingly, the dollar bulls pounced on the idea.

EUR/USD found session resistance at 1.0885 before closing with a 46-pip loss (-0.42%) to 1.0814 while GBP/USD ignored the U.K.’s positive services PMI data and slipped by 85 pips (-0.57%) to 1.4808. USD/JPY also inched 39 pips (+0.33%) higher to 120.45 before closing at 120.27.

Even the Loonie, which could have been supported by slightly higher oil prices, also lost a few pips to the dollar. USD/CAD popped up to 1.2522 and eventually closed at 1.2506. Heck, the Aussie, which was boosted by the RBA’s decision to keep its rates steady at 2.25%, stepped back by 26 pips (-0.34%) throughout the session.

Will we see more dollar gains today? The Bank of Japan (BOJ) is set to release its monetary policy decision today at 5:00 am GMT. Market players aren’t expecting any changes from the central bank, but watch out for any hints of possibly adding more stimulus in the near future!

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Bonnie and Clyde, peanut butter and jelly, Kanye West and Kanye West. Some things just go well together.

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