Global macro overview for 01/03/2017
March 1, 2017 10:18 amVideo
Latest News
- Technical Analysis – EURGBP maintains bearish bias amid pennant formation April 17, 2024
- EUR/USD. April 17th. Jerome Powell supports the dollar April 17, 2024
- GBP/USD. April 17th. Inflation in Britain is falling, but not as much as the market wants April 17, 2024
- Tesla Q1 Earnings: Poor deliveries point to disappointing results – Stock Markets April 17, 2024
- Video market update for April 17, 2024 April 17, 2024
- Forex forecast 04/17/2024: EUR/USD, GBP/USD, Gold, Bitcoin and Ethereum from Sebastian Seliga April 17, 2024
- Technical Analysis – Gold struggles to jump above 2,400 April 17, 2024
- GBP/USD: trading tips for beginners for European session on April 17 April 17, 2024
- EUR/USD: trading tips for beginners for European session on April 17 April 17, 2024
- Market Comment – Geopolitics and Fedspeak keep stocks under pressure April 17, 2024
- Technical Analysis – USDJPY on the verge of hitting 155.00 milestone April 17, 2024
- Hot forecast for EUR/USD on April 17, 2024 April 17, 2024
- Overview for the GBP/USD pair on April 17th. British inflation could weigh on the pound April 17, 2024
- Technical Analysis – NZDUSD bounces off 5-month low April 17, 2024
- Overview for the EUR/USD pair on April 17th. There is no single reason for the euro to rise April 17, 2024
- Key events on April 17: fundamental analysis for beginners April 17, 2024
- Trading plan for GBP/USD on April 17. Simple tips for beginners April 17, 2024
- Trading plan for EUR/USD on April 17. Simple tips for beginners April 17, 2024
- Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Wednesday April 17, 2024. April 17, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Wednesday April 17, 2024. April 17, 2024
Global macro overview for 01/03/2017:
Interesting remarks from two FED policymakers were released yesterday. The remarks from William Dudley from New York and John Williams from San Francisco FED were very hawkish. Dudley – a permanent voter on the FOMC – claimed the case for tightening is now a lot more compelling, while Williams –who does not vote until next year – claimed a rate increase is up for “serious consideration” at the meeting this month. In conclusion, after these remarks, the implied rate hike odds from Reuters is at 66% this month and the US Dollar is being bought all over the board.
Let’s now take a look at the US Dollar technical picture at the H4 time frame. The price is trading just below the important technical resistance at the level of 101.77 and the break out higher seems to be imminent. Please notice that if this level is violated, then the next important technical resistance is at the level of 102.97. On the other hand, only a sustained violation of the level of 100.66 would invalidate this bullish view.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: