Top FX Headlines: DXY Index Posture Remains Bullish Ahead of US NFPs Tomorrow

Commentary, Forex, News, Technical Analysis

Talking Points:
– US Dollar gains have steadied in recent days as US Treasury yields’ rise have stalled.
– Given impact of hurricanes on southeastern United States in September, there is a high likelihood that there is interference in the jobs number, which as a result won’t reveal too much about the underlying state of the US labor market.
– Retail trader sentiment continues to shift in a way that suggest USD-pairs may still turn higher.
The US Dollar rally may have shifted into a lower gear this week, thanks in large part due to US Treasury yields stabilizing, but that doesn’t mean the recent bull run is over yet.
Ahead of the September US Nonfarm Payrolls report tomorrow, the DXY Index retains its bullish technical posture: price is holding above the daily 8-, 13-, and 21-EMAs; and both MACD and Stochastics continue to trend higher above their respective signal or neutral lines. The greenback’s attempt at basing remains intact with December Fed rate hike expectations continuing to rise, now near 80%.

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