Hello again friends, safe haven currency US Dollar has bounced and recovered, as earlier USD missed on Consumer Price Index that was recorded on Friday. While the Fed saw the dip in inflation as transitory and blamed the downside pressure on such things as falling pricing of mobile contracts, investors and forex traders looking through those words are worried that there are bearish pressures mounting for the USD relative to Fed expectations of further hikes coming into future meetings.
Meanwhile, safe haven currency USD is predicted will bouncing today, and EUR/USD is once again below 1.1800, but not fully done with a potential move to and through 1.20 until we see a more pronounced move higher in USD. This week, the data is sparing in importance, and most focus will likely be placed in the UK where the stealth weakness of Great Britain Sterling, could either extend or turnaround if the quagmire of political and economic woes finds support. Either way, the trade to watch unwind would likely be the risk-off trade
source: dailyfx
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