By Chris Becker
An unexpectedly poor NFP on Friday night sucked in the USD bulls and spat them out, going against secondary employment measures and reviving hope that the Fed won’t raise rates just yet. They will, but the timetable continues to be stretched out as the mixed message – buy USD, don’t buy USD – confuses the punters. US stocks slipped on the result while USD sold off against everything – except gold – but this setback looks temporary at best.
As usual for Monday, I’ll step back and look at longer term charts to place moves in a better context.