|Day's Range||89.396 - 89.960|
|52 Week Range||89.396 - 98.665|
Jerome Powell’s first meeting as the Fed chairman ended up with a rate hike. However, the fed aims for three rate hikes in the rest of the year. In addition, concerns continue to grow over a trade war as Donald Trump is expected to impose US tariffs on Thursday.
The dollar’s initial rally failed to gain traction because ahead of the Fed’s announcement, speculators were probably betting on as many as four rate hikes this year.
The main trend is up according to the daily swing chart. The uptrend was reaffirmed when buyers took out 89.95 on Tuesday. However, the rally stopped at 90.025.
The prospects of an interest rate hike this week has left Gold wobbly and vulnerable. The metal rallied slightly on Tuesday as stocks dropped across the board, and continues to extend its gains on Wednesday ahead of the Fed meeting.
It’s all about the FED today and, while the markets are expecting a rate hike, how many rate hikes will be projected for the year will be key. Across the Pond, UK unemployment and wage growth figures will also be in the spotlight ahead of tomorrow’s BoE monetary policy decision.
Investors will also be looking for clues from the central bank on its outlook for the U.S. economy and how many interest rate increases we may see to prevent the economy from overheating.
Based on Tuesday’s price action, trader reaction to 89.89 to 89.95 will determine the next move in the index. Overcoming and sustaining a rally over 89.95 will signal the presence of buyers. A sustained move under 89.70 will signal the return of sellers.
The dollar moved firmly higher on Tuesday, shaking off its early-week weakness as attention shifted from the positive Brexit developments to the Federal Reserve meeting where rate setters are widely expected ...
There has been an incredible amount of chatter as to how many times the Federal Reserve is going to raise rates in 2018, and the speed at which it will raise them by. For gold investors, the old question lingers, “What will rising interest rates mean for the price of gold?”
Based on Friday’s close at 89.797, the direction of the index this week is likely to be determined by trader reaction to the downtrending Gann angle at 89.98.
The Euro reversed earlier losses on Monday after investors revived bets that the ECB may raise rates sooner than previously thought.
The U.S. dollar kicked the week off slightly weaker, as trader focused on a Brexit breakthrough that pushed the British pound to a one-month high against the buck.
This week is going to be very busy for the dollar, the leading event being Fed meeting, the very first one for its new governor Jerome Powell. A key interest rate is extremely likely to be raised during the meeting, the investors and analysts say, but this is not the major question here. The markets will be expecting any comments or hints regarding future policies and steps the Fed is going to take.
A tightening Federal Reserve is supporting the U.S. dollar, but fears over government policies and the sustained health of the U.S. economy are pushing it the opposite directions. In all this, it seems ...
The G20 meetings will get underway in Buenos Aires, Argentina. Trade and politics will be highlighted and prove important for global investors sentiment.
The Dollar/Yen was pressured last week by political uncertainty in U.S. President Donald Trump’s cabinet and renewed worries about trade wars.
Near term inflation expectations jumped to their highest level in several years, and interest rates were expected to increase by the largest proportion since 2004.
The dollar slumped on Friday, sliding the most against the yen as traders moved into currencies considered more safe after reports U.S. President Donald Trump was planning to fire his national security ...
The U.S. dollar on Thursday traded higher against many of its main rivals—with the exception of the Japanese yen—as the risk-on sentiment tapered off, pushing the Japanese haven currency up.
The U.S. dollar retraced its brief post-data losses on Wednesday but remained in a close range versus its rivals. The euro was in focus after European Central Bank President Mario Draghi expressed concern ...
The firing of U.S Secretary of State Rex Tillerson overshadowed the Consumer Price Index data yesterday.
The U.S. Dollar fell against a basket of major currencies on Tuesday mostly in reaction to U.S. consumer inflation data which came out in line with expectations.
US dollar will probably continue its downtrend on the fear of a potential trade war caused by the US tariffs annulment on imported steel and aluminum. Despite the fact that the fear of a trade war starts fading away, some elements on the technical side are still there and could support the continuation of the downtrend. At the moment, the dollar index is not showing pullback elements, as the US dollar continued going downwards during the past days.
The U.S. dollar sold off against many of its rivals on Tuesday, following consumer-price inflation data that was in line with expectations, dampening more-aggressive rate-hike forecasts, and after President ...
The Canadian dollar dropped against its U.S. rival on Tuesday, as the early release of a speech by Bank of Canada Gov. Stephen Poloz showed the central bank's dovish caution. Poloz called the BOC's policy ...