The Federal Reserve speeds up its quantitative tightening, and this is certainly bullish news for the USD. At the same time, this is a negative factor for the American stocks, which have entered their seasonally worst month.
US dollar: forecast for July 24-28
It was another disastrous week for the American currency. The US dollar index (DXY) fell to 94.00.
It happened as the market thought that the European Central Bank is planning to reduce monetary stimulus, while low inflation may prevent the Federal Reserve from another rate hike this year. In addition, US President Donald Trump didn’t manage to get enough support for his healthcare bills in the Senate. Traders fear that Trump will have similar difficulties with in passing his stimulus and tax reforms. Moreover, there are news that the US special counsel is expanding investigation of Donald Trump.
The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.
After last week's CPI turned the markets upside down, we are looking at the performance of the US dollar…
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.