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The Dow Jones was the only major US index to end the week on the front foot on Friday, but having said that, the close was way below the record high set earlier in the day. The Dow Jones had surged to a high at 42,628. It then fell back to a low at 42,227, before later setting a record daily and weekly close at 42,313. As mentioned right at the start of the session, the rotation in favour of the Dow, at the expense of the Nasdaq 100, remained in place all the way to the close, as the Nasdaq 100 closed lower on the day. Overnight the price action across the Asian markets has been stark in terms of contrasts between Japanese and Chinese stocks. For example the Nikkei 225 is more than 4% lower, where stocks in Hong Kong are more than 3% higher. Right now it seems the Dow Jones futures are not exactly taking a lead from either and currently pricing the opening for later on not much removed from where the index closed on Friday
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Following on from the previous update, noting the slide in the EUR/USD after the US jobs report, the Euro is not the only currency reeling under the...
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