Forex Today: USD Hits Highs, GBP on Hawkish Sentiment

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Forex Today: US Dollar Hits New Highs Against Yen, Pound on Hawkish Sentiment

during the Asian session. Asian stock indices such as Yesterday’s ADP Non-Farm Payrolls Forecast suggested that only 132k net new jobs were created in the US last month, while analysts had been expecting about 300k. If confirmed by the real data this Friday, it would be a significant undershoot and suggest the US economy is slowing.Daily new coronavirus cases globally dropped last week for the sixth consecutive week.

It is estimated that 67.7% of the world’s population has received at least one dose of a coronavirus vaccination, while approximately 7.7% of the global population is confirmed to have contracted the virus at some time, although the true number is highly likely to be much larger. Total confirmed new coronavirus cases worldwide stand at over 608.1 million with an average case fatality rate of 1.0The rate of new coronavirus infections appears to now be most significantly increasing in Haiti, Taiwan, and Russia.

 

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Canadian Dollar Forecast: Rallies into Resistance as Oil, Stocks Weaken – Setups for CAD/JPY, USD/CADThe major CAD-crosses are still offering mixed signals, with both CAD/JPY and USD/CAD rates trading higher in recent days. If USD/CAD rates continue to press higher, it may prove difficult for CAD/JPY rates to achieve a bullish breakout.
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