Dollar index cant catch a bid on strong NFP
The dollar has been an interest asset to watch after the release of the surprisingly strong NFP report which suggest to us that if it cant rally on strong data, then its likely to see more selling to come on sentiment shifts in the market. With that being said, watch out for risk tone this morning as more downside pressuring in the dollar index should give a boost the commodity currents rally. Until the US session takes place, its hard to predict which way the dollar is going, however, there are distinct levels to look at for clues. On the downside, watch out for the NFP low at 95.12, 95 and 94.65. On the upside, watch out for 95.57 and 96 handle today.
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