Boris and Kathy Forex Weekly – 12-11-2018 – Commodity Dollars
November 11, 2018 10:31 pm
3 Currencies to Watch This Week
If there’s one thing that the recent price action in the forex market can tell us it is that dollar bulls refuse to relent control. At the start of last week, investors took profits on long dollar positions on the fear that the U.S. Midterm Elections would cause a significant market disruption. However when the Democrats won control of the house investors sold dollars and took it right back up in the NY session. 24 hours later, the Federal Reserve’s positive outlook gave them the confidence to send USD/JPY above 114 and EUR/USD to a one week low of 1.1327. As we look ahead, there’s a tough fight happening between the bulls and bears and the winner will depend on whether US data reinforces the Fed’s optimism.
3 Currencies to Watch This Week
If there’s one thing that the recent price action in the forex market can tell us it is that dollar bulls refuse to relent control. At the start of last week, investors took profits on long dollar positions on the fear that the U.S. Midterm Elections would cause a significant market disruption. However when the Democrats won control of the house investors sold dollars and took it right back up in the NY session. 24 hours later, the Federal Reserve’s positive outlook gave them the confidence to send USD/JPY above 114 and EUR/USD to a one week low of 1.1327. As we look ahead, there’s a tough fight happening between the bulls and bears and the winner will depend on whether US data reinforces the Fed’s optimism.
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