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 its highs, the AUD has surprisingly held up the best of the bunch, with the Aussies 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 its 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 its 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 heres 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 wont be able to continue to pay its bills. Just in case you hadnt heard
In the markets eyes at least, USD strength has been driven by several FOMC members making comments keeping the market on its 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 its 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 heres 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 wont be able to continue to pay its bills. Just in case you hadnt heard
Morning View: USD, Back on Top
Categories: Back on Top, Morning View: USD
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