Boris and Kathy Forex Weekly – 17-09-2018 – Majors
September 16, 2018 11:03 pm
Everyone wants to know if the U.S. dollar will continue to rise. USD/JPY defied fundamentals this past week to hit a 7-week high but the greenback did not perform as well against other major currencies. Euro, sterling, the Australian and Canadian dollars extended their recoveries, but after the U.S. retail sales report on Friday, U.S. dollar bulls are slowly regaining control. This strength is confusing to some investors because it is not consistent with U.S. data, which has surprised to the downside. Federal Reserve districts are also worried about trade tensions but dollar bulls don’t want to give up control. After rallying at the start of the week, major currency pairs such as EUR/USD and AUD/USD tested and rejected key resistance levels and now they are vulnerable to deeper corrections.
Everyone wants to know if the U.S. dollar will continue to rise. USD/JPY defied fundamentals this past week to hit a 7-week high but the greenback did not perform as well against other major currencies. Euro, sterling, the Australian and Canadian dollars extended their recoveries, but after the U.S. retail sales report on Friday, U.S. dollar bulls are slowly regaining control. This strength is confusing to some investors because it is not consistent with U.S. data, which has surprised to the downside. Federal Reserve districts are also worried about trade tensions but dollar bulls don’t want to give up control. After rallying at the start of the week, major currency pairs such as EUR/USD and AUD/USD tested and rejected key resistance levels and now they are vulnerable to deeper corrections.
Related Posts: