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Hardy: What next for USD?
What next for the US Dollar? If Nonfarm Payrolls (NFPs) are between 200,000 and 250,000, Head of FX Strategy, John Hardy, says the dollar should rally. He warns that if the jobs’ data is below this figure, the dollar could fall. He also believes that if it exceeds the 300,000 mark, then that would create volatility in the markets, challenging the direction of Fed policy.
The Dollar rose against the Euro after yet more words but no action from the ECB on Thursday. What does seem surprising is that the Euro is up against the Swiss Franc this Friday. John Hardy says that’s because the ECB has paved the way for future QE which would challenge the Swiss Franc’s safe haven status. It would also ensure traders around the world remained interested in European assets.
01:36 minutes
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