NAGA flags US dollar weakness faces key test from Friday’s NFP report - SPY News | RalliesNAGA flags US dollar weakness faces key test from Friday’s NFP report
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SPY• Currency moves remain tied to dollar weakness
- EUR/USD traded near 1.16, nearing a key resistance zone.
- USD/CAD fell toward 1.4 support as the Canadian dollar strengthened.
NAGA says Friday’s NFP report is the next key catalyst
- The NAGA Group AG flagged Friday’s US Nonfarm Payrolls report as the next key catalyst for the dollar, Fed expectations, equities, and metals.
- Recent dollar weakness has supported risk assets; a strong NFP print could revive dollar demand and pressure equities and precious metals.
Stocks and commodities react to the broader market backdrop
- The S&P 500 hit record highs near 7,740.
- The Nasdaq lagged around 29,400 as investors rotated away from expensive tech.
- Gold rose toward USD 4,275 on a technical breakout.
- US crude slipped near USD 75.5 as Iran diplomacy hopes reduced risk premium.
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