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NFP data could be a key tip-off for Fed’s rate hike decision: Hardy
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John Hardy, head of FX strategy at Saxo Bank, explains why he thinks today’s nonfarm payroll data from the US could give a good indication of how the US Federal Reserve will act this summer.
The US Federal Reserve is seeking data dependency via the NFPs prior to the FOMC meeting on June 15.
Hardy says markets should react in some way to this key US data and that EURUSD movement likely remains the purest expression of a positive US print with expectations for broad dollar weakness if the numbers are soft.