The US dollar pulled back sharply during European trading, but subsequently edged higher on flight-to-quality following news that US non-farm payrolls fell in line with expectations by 651,000 in February.
Wayne McDonell specializes in currency trading and recently authored a book. Here he discusses which currency pairs he watches when trading around big economic announcements such as the Non-Farm Payrolls report. He also discusses futures trading and how he trades the 10-year T-Notes and stock indices using the futures market.
The US dollar and Japanese yen both gained as risk appetite faltered on news that China unexpectedly did not announce new stimulus measures and amidst indications that General Motors (GM) could be forced to file for bankruptcy protection.
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