jeudi 9 avril 2015
Morning View: USD, Back on Top
Posted on 18:29 by nice news
Overnight we saw broad USD strength across forex markets, with price now settling at lows on most of the majors. Although still sold off it’s highs, the AUD has surprisingly held up the best of the bunch, with the Aussie’s attracton attributed to the ever present ‘carry trade’.
In the markets eyes at least, USD strength has been driven by several FOMC members making comments keeping the market on it’s toes for a rate hike sooner rather than later despite the mixed data. On the back of this expectation, the US Dollar Index (USDX) broke through it’s recent technical swing high last night.
Yesterday on the @VantageFX Twitter, I did a comparison between the current EUR/USD and USDX 4 hour charts:
As you can see, they are basically inverted versions of the same chart, highlighting just how much USD moves on the back of Fed expectations are driving the majors.
Insert Greece Headline Here:
Yes I apologise for doing this, but here’s another Greece related headline that I have to mention from last night:
“Greece made a €450 million payment to the International Monetary Fund”
But Greece is still broke and won’t be able to continue to pay it’s bills. Just in case you hadn’t heard…
In the markets eyes at least, USD strength has been driven by several FOMC members making comments keeping the market on it’s toes for a rate hike sooner rather than later despite the mixed data. On the back of this expectation, the US Dollar Index (USDX) broke through it’s recent technical swing high last night.
Yesterday on the @VantageFX Twitter, I did a comparison between the current EUR/USD and USDX 4 hour charts:
As you can see, they are basically inverted versions of the same chart, highlighting just how much USD moves on the back of Fed expectations are driving the majors.
Insert Greece Headline Here:
Yes I apologise for doing this, but here’s another Greece related headline that I have to mention from last night:
“Greece made a €450 million payment to the International Monetary Fund”
But Greece is still broke and won’t be able to continue to pay it’s bills. Just in case you hadn’t heard…
Morning View: USD, Back on Top
Categories: Back on Top, Morning View: USD
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