Last week the US dollar index (DXY) declined from 95.00 to 94.30. Investors were disappointed that an important US tax bill might be delayed until 2019 instead of being implemented in 2018. The problem is that the House of Representatives and the Senate have different ideas of what this legislation should look like. Treasury yields declined on the news and so did the USD.
In the coming days, there will be more political and economic news. We are looking forward to new headlines about the tax reform. The USD needs progress here in order to retain support. America will also release PPI on Tuesday, CPI and retail sales and Empire State manufacturing index on Wednesday, unemployment claims, import prices and industrial production on Thursday and building permits and housing starts on Friday. In addition, we’ll hear from the US central bank a lot: FOMC member Harker and the Fed Chair Yellen speak on Monday, Evans on Wednesday and Kaplan and Brainard on Thursday. Insights about the Fed’s plans will drive the greenback as well.
Given all this, the odds are that the USD will have a better week than the last time. The overall outlook for DXY will remain bullish as long as it’s trading above support at 94.00. Resistance lies at 95.00. Advance above this level will open the way up to 96.00.
The Federal Reserve speeds up its quantitative tightening, and this is certainly bullish news for the USD. At the same time, this is a negative factor for the American stocks, which have entered their seasonally worst month.
The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.
After last week's CPI turned the markets upside down, we are looking at the performance of the US dollar…
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
