Short term recovery for DXY and the Dollar?
Yesterday we saw Fed Chairman Jerome Powell speak rather dovish on the economic outlook and the position of the fed. Off the back of these comments, we saw the DXY climb above previous structure highs with momentum growing to the upside and breaking the 2021 highs.
Currently, DXY has broken the high but will need to close and remain above to confirm the dollar strengths. We need to consider that the US economy is slowly starting to show signs of life again with vaccinations on the rise, more accessibility should see a boom.
Predicting that the US economy will see signs of life in the 3rd or 4th quarter when interest rates may change.
Currently, DXY has broken the high but will need to close and remain above to confirm the dollar strengths. We need to consider that the US economy is slowly starting to show signs of life again with vaccinations on the rise, more accessibility should see a boom.
Predicting that the US economy will see signs of life in the 3rd or 4th quarter when interest rates may change.
Commentaire:
Some sizeable moves across USD. This could leave the door open for the bulls to push higher next week. A thorough trade plan is needed for the months and weeks ahead.
