I do still believe that the bearish trend is not over as there is a high chance still that DXY can touch 107.50 followed by 108 levels. However, even though NFP came out higher fueling interest rate hike fears , but still there is a chance that the Fed may pause rate hiking due to decline in wage growth of Average Hourly Earnings (MoM) -(YoY) - and unchanged...
DXY clearly waits for Friday’s Non-Farm Payrolls report. I do expect NFP to come higher than expected (170K) as Jobless claims are dropped from 210k to 207K . Deutsche Bank is a German multinational investment bank and financial services company forecasts the unemployment rate 3.9% and the earnings growtht +0.2% m/m. Currently the DXY is trading above 200EMA...
A rise in oil prices may cause the consumer price index (CIP) and Producer Price Index (PPI) higher. Today US CPI climbed to 3.7% from 3.2% as Oil price continues to raise high since June 2023. Rising oil prices increase the cost of transporting goods and services, as a result the inflation raises high. WTI CRUDE 88.73 BRENT CRUDE 92.09 ...
Traders eye on upcoming key economic indicators next week. According to economic analysts the ECB is most likely to keep the interest rate unchanged in September. US inflation continues to slowdown even though labor market still reminds a bit of strong. U.S. Initial Jobless Claims dropped to 216K from 229K (Previous) ISM Manufacturing PMI increased to...
Its better to let the market to show a bit more details about the direction with new released reports. As I expected the price fell back below 1.080 level again. * ECB most likely to keep the rate unchanged in September with economic reports. * US unemployment rate is rose to 3.8% from 3.5%. * U.S shows adding more jobs and raising unemployment rate is a...
I personally cant think EUR/USD can hold above the 1.0800 longer. US Dollar sharply declines but still there is a high chance of DXY to test 105 level. Tomorrow will be a critical day for EUR/USD. * German inflation * GDP (QoQ) (Q2) * ADP Nonfarm Employment Currently looking for a short postion as the price has grabbed liquidity . Note - Trading is not...
I don't know why I feel there is one more leg to down. :) Decided to execute a trade with very tight S/L .
(DXY) crawls up toward 102.05 area ahead of the Fed rates decision, however the rate hiking can expect as non-farm payrolls rose by 209k in June even though CIP dropped to 3.0%. Meanwhile , We can expect Gold to slip down a bit more with the speed of DXY to level 1945 area.
Federal Reserve that does not seem to be finished with hikes, is bullish for the US dollar. The USD most likely to get up soon after a correction. Look for Selling opportunities if the price will show a bearish confirmation right at the order block level.