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Morning All;
investors took profits on their long dollar positions ahead of Friday's non-farm payrolls report. The sell-off was motivated by a weak manufacturing ISM number but the stakes are high for tomorrow's release and some traders decided it was smarter to reduce exposure. Federal Reserve officials made it very clear that the decision on a rate rise in September would hinge in large part on tomorrow's jobs report.
If non-farm payrolls exceed 200K and the unemployment rate holds steady or…
investors took profits on their long dollar positions ahead of Friday's non-farm payrolls report. The sell-off was motivated by a weak manufacturing ISM number but the stakes are high for tomorrow's release and some traders decided it was smarter to reduce exposure. Federal Reserve officials made it very clear that the decision on a rate rise in September would hinge in large part on tomorrow's jobs report.
If non-farm payrolls exceed 200K and the unemployment rate holds steady or…