US DOLLAR PRICE OUTLOOK: GBP/USD, AUD/USD, USD/SEK IN FOCUS AS FOMC PUMPS BALANCE SHEETThe US Dollar is gravitating round 5-month
US DOLLAR PRICE OUTLOOK: GBP/USD, AUD/USD, USD/SEK IN FOCUS AS FOMC PUMPS BALANCE SHEET
- The US Dollar is gravitating round 5-month lows because the Fed floods the market with liquidity by way of reverse repo operations deemed ‘not-QE’
- GBP/USD continues to be anticipated to be probably the most energetic main forex pair regardless of the UK General Election ends in the rearview mirror as focus now shifts to the Financial institution of England (BOE)
- AUD/USD and USD/SEK are additionally anticipated to be energetic throughout Tuesday’s session as foreign exchange merchants gear up for Australia jobs knowledge and Riksbank rate of interest resolution
USD value motion has edged steadily decrease since its October 01 swing excessive measured by way of the US Greenback Index (DXY). Latest weak point within the broader US Greenback will be attributed to a number of components like fading demand for safe-haven currencies as commerce relations between the US and China seemingly enhance or how the Federal Reserve is inflating its stability sheet at an astonishing charge.
These basic headwinds might linger and preserve exerting downward strain on the US Greenback. That is seeing that US-China commerce officials confirmed a part one commerce deal has lastly been reached between Washington and Beijing, which is able to doubtless proceed to gasoline urge for food for danger.
US DOLLAR INDEX PRICE CHART: DAILY TIME FRAME (10 JUNE 2019 TO 16 DECEMBER 2019)
