Video: Both the Dollar and S&P 500 Bull Trends Ride on NFPs
• US NFPs and labor statistics for September are due Friday at 12:30 GMT
• The Dollar's impressive rally this past three months can be rendered 'overdone' on a weak jobs showing
• Representing risk trends, the S&P 500 is back in a familiar technical position as the catalyst approaches
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The US Dollar has rallied aggressively over the past three months - a move charged heavily through rate expectations. However, at four-year highs; does the fundamental backdrop fit the buoyant position of the currency itself? Meanwhile, the S&P 500 has dropped back to the floor of a well-worn channel stretching back to the beginning of 2013, and traders recognize a common pattern. Speculators used to complacency want to buy on the dip; but the recent build in volatility measures and progress by the Fed is starting to fray confidence. Will one of these markets face a major break? We discuss the potential impact of the September NFP and labor data in today's Strategy Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.