USD Skyrocketing

USD Skyrocketing

2021-08-19 • Updated

Daily Chart 

UsDollarDaily.png

The US Dollar soared higher since the beginning of the Asian session until this report is released. Such rally comes as a reason of the Asian and the European markets to the Federal Reserve meeting minutes, which showed that the Fed is somehow preparing the markets for QE tapering before the end of this year, which could actually happen in December's meeting.

However, the Fed also stressed that they are still watching Covid19-Delta developments in the US, as infection rate is still increasing, and if things for even worse, the fed might delay such decision. Yet, the market is not concerned about delta yet, they are now concerned about lower liquidity by the Fed and other central banks, and therefore we are seeing a broad selloff across the board.

In the meantime, I would stand aside and watch how the US market will react today, as the current move might be a bit excessive, as the info that we got from the meeting minutes is not something new. But such move, could be a new opportunity for those who likes swing trades.

As for today, I will be watching 93.50 resistance area as it won't be easy to be broken. Another downside retracement is highly possible, which may retest the 93.0 support area, before the upside trend resumes.

S3 S2 S1 Pivot R1 R2 R3
91.86 92.41 92.77 92.97 93.33 93.52 94.04

Similar

How Will China’s Regulation Affect Oil?
How Will China’s Regulation Affect Oil?

China has issued new oil product export quotas to allow oil companies to send surplus barrels overseas, particularly Sinopec, which has the highest volume among quota holders. While the exact quota volume remains undisclosed, oil companies are forecasted to export approximately 3.5 million metric tons of clean oil products in September, a 10% increase from August.

The Oil Market in the Month of June
The Oil Market in the Month of June

Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.

Oil Market Outlook
Oil Market Outlook

Oil prices rebounded slightly on Friday but are still expected to show losses for the week due to concerns about slowing growth in the US and China. US crude futures rose 2.7% to $70.41 per barrel, while the Brent contract increased by 2.5% to $74.33 per barrel.

Latest news

Gold is Rising Despite Inflation Returns
Gold is Rising Despite Inflation Returns

Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.

Can the Chinese Economy Recover?
Can the Chinese Economy Recover?

Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

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!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera