Daily News: the USD has plunged

Daily News: the USD has plunged

  • On Monday, the US dollar index plunged from 96.40 to 95.70. Up to now, the index has been continuing to suffer. It has already tested below the psychological level at 95.50. No important economic data will be released today. As a result, risks that the US dollar index stays at low levels are high. The support is at 95.50. The resistance is at 96.

The great fall was caused by several comments on the monetary policy. The first one was from the Federal Reserve member Mr. Bostic. He said he anticipates just one more rate hike this year (when the market expects two).

Mr. Trump invested in the fall of the USD saying that he is against the tightening policy of the Fed.

 usd.png

  • Other currencies significantly rose after the plunge of the USD.
  • The euro managed to recover as well. Yesterday EUR/USD rebounded from the pivot point at 1.1395. Up to now, the pair has tested resistances at 1.1490 and 1.1540. No important economic data will be released today. Therefore, odds of the break above 1.1540 are low. However, if the USD is weak, the pair has chances to stick above 1.1490.

EURUSDDaily.png

  • The British pound keeps moving up. GBP/USD has tested above the resistance at 1.2828. If the pair is able to close above this level, the further rise is anticipated. If the USD recovers, there are risks of the bearish trading. The support is at 1.2744.

gbp.png

  • The USD/JPY pair has tested the support at 110. However, the support was strong as 38.2 Fibo level, 100-day and 200-day MAs lie there. As a result, the pair rebounded. Up to now, it has been moving up. The resistance is at 110.45 (50-day MA).

USDJPYDaily.png

  • The New Zealand dollar has significantly recovered as well. The pair opened at 0.6616 and has tested above the resistance at 0.67. The market anticipates a surplus in retail sales data tomorrow. As a result, the pair has chances to stay strong. If the USD recovers, the pair will turn around. The support is at 0.6635.

NZDUSDDaily.png

That’s all for today! Follow market news with FBS!

Similar

Latest news

Gold Rises as Central Banks Buy More
Gold Rises as Central Banks Buy More

About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.

US Evades Default This Time
US Evades Default This Time

Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!

USD Gains Momentum
USD Gains Momentum

The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!

Deposit with your local payment systems

Feel the Team Spirit

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!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

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