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EURo starts the week with a gap down

Major currencies opened the week with the dollar gapping to the upside. This is not surprising given substantial dollar losses on Friday post-NFP.
Euro gapped 20 pips to the downside and went sideways from there. 50 DMA (~1.0975) is the immediate support level before 100 DMA (~1.0925). 200 DMA near 1.1050 is the first stronger resistance ahead of February 26th high (~1.1070).
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Dollar bears take some profits after the NFP

A weak week for the dollar ended with dollar strength. Despite the miss in the headline non-farm employment number, it was overall a decent jobs and wages report with unemployment down and average hourly earnings up.
Initial response to the report was to sell the dollar but the moves were soon reversed. Commodity currencies were hit the hardest while the yen is poised to close near unchanged for the day as both stocks and oil sold off.
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Dollar strength to start the year

Quite a lot of action for a Monday but it's not an ordinary day. A volatile first trading day of 2016 has seen the dollar rise and stock fall. Commodites have been mixed but mostly lower.
Yen was the only major currency that beat the dollar on this risk-off day. Offshore renminbi climbed to new multi year highs while PBOC set yuan reference rate to 6.5032 overnight.
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