It is a rather peculiar re-entry Tuesday as the US dollar is rallying despite an overnight session filled with positive European economic data. Following Friday’s dismal US jobs report, the greenback was on retreat but as the euro and pound could not hold the technically important $1.10 and $1.50 levels, respectively, the dollar is rising once again.

Global stocks have all risen as well as investors digest the latest NFP report as “bad news means good news” and accommodative policies could remain longer for the world’s largest economy. The Reserve Bank of Australia kicked off a heavy week of meetings as the RBA kept rates unchanged at 2.25%.

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By Guest