Dollar Rallies, Positive Job Report Expected | RJO Futures

December 2, 2016 2:17AM CST

The dollar index rallied last week and we expect to get a good jobs report this morning. However, all things considered, the dollar index momentum last week doesn’t compare with dollar momentum since the November 24 th high. The flow of data should have channeled the dollar into fresh highs but instead the Dollar seems to be in sideways consolidation. This sideways trend can be attributed to competition from international recovery and a change of US trade agreements. However, the dollar may face an extremely active flow of US data today and that data looks to be a positive outcome for the market. Today's unemployment report could push IDX back over 101 and thus provide a staging level for further rallies, and corrections should continue the fight to hold 10100- to keep momentum. A break through 100675 could be considered a reversal into a correction phase down, which in turn will test a larger topping turnover. We shall see -


< Back to Articles & Videos

RJO Futures | 222 South Riverside Plaza, Suite 1200 | Chicago, Illinois 60606 | United States
800.441.1616 | 312.373.5478

This material has been prepared by a sales or trading employee or agent of RJO Futures and is, or is in the nature of, a solicitation. This material is not a research report prepared by RJO Futures Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.