USD PRICE OUTLOOK: US DOLLAR SET FOR VOLATILITY WITH NFP REPORT & FOMC DECISION DUEThe US Dollar has succumbed to an inflow o
USD PRICE OUTLOOK: US DOLLAR SET FOR VOLATILITY WITH NFP REPORT & FOMC DECISION DUE
- The US Dollar has succumbed to an inflow of threat urge for food pushed by hopes for a partial US-China commerce deal, however one other sturdy nonfarm payrolls (NFP) report might ship the Buck increased
- USD value motion has swooned up to now this month and pushed the DXY Index beneath its 200-DMA with the US Greenback edging decrease during the last 5 consecutive buying and selling classes
- Learn extra on why merchants ought to Expect US Jobs Data to Spark Volatility
Currency volatility continues to point out indicators of trickling its approach again into the foreign exchange market. Anticipated USD value motion stays slowed down, nevertheless, as measures of volatility start to churn increased from record low levels.
Suppressed readings of US Greenback implied volatility, which have usually mirrored the flood of investor threat urge for food in response to US-China commerce deal optimism, can partly clarify current draw back in USD costs and broader DXY Index.
That is largely because of the inherent relationship between volatility and perceived threat/uncertainty, however the current drift decrease within the US Greenback and foreign money volatility may very well be on the cusp of reversing its development – probably a welcomed growth for USD bulls.
US DOLLAR INDEX PRICE CHART: DAILY TIME FRAME (JUNE 18, 2019 TO DECEMBER 05, 2019)
Chart created by @RichDvorakFX…