A lower jobless claims number failed to produce more than a temporary bump in the dollar's value against the euro and yen as investors show they want more substantial proof that the employment picture in the US has improved. The dollar pushed higher against the yen to Y102.44, but quickly wound back down to Y102.28. The euro slipped against the buck briefly to $1.3750, before scrabbling back to its pre-report level, last at $1.3760. "Markets really want to see confirmation in the nonfarm payroll report for the strength of the job market
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
No comments:
Post a Comment