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Forex Pub Report, November 3, 2006 |
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The NFP (Non-Farm Payroll) report came in today lower than expected, but a revised figure from last month sent the dollar to higher ground. Economists expected the figure to come in around 130K but the actual figure was about 92K. Unexpected, however, was a revision of last month's release as September data was changed to 148K from the previous 51K. Due to this surprise, the dollar gained around 100 pips though it gave back some of those gains during the day, closing at around 1.2718. We should see some good movement next week due to the US midterm elections Tuesday, and on Thursday the US trade balance figures will be released. Also on Thursday the Bank of England is expected to raise interest rates from 4.75% to 5.00%.
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