US DOLLAR CURRENCY VOLATILITY: AUD/USD, GBP/USD, USD/JPY IN FOCUSUSD value motion sinks additional following disappointing retail
US DOLLAR CURRENCY VOLATILITY: AUD/USD, GBP/USD, USD/JPY IN FOCUS
- USD value motion sinks additional following disappointing retail gross sales knowledge and lingering Brexit deal hopes, which has pushed the DXY Index beneath the 98.00 deal with
- The US Greenback might get a jolt from preliminary jobless claims knowledge in addition to the most recent commentary from FOMC officers on deck throughout Thursday’s buying and selling session
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US Greenback weak point has continued for almost three weeks. The DXY Index now trades beneath confluent assist on the 98.00 deal with after already cratering by way of main technical ranges which were outlined within the day by day publishing of this US Dollar price volatility report. Current bearish USD value motion is threatening the dollar’s longstanding uptrend regardless of simply printing recent year-to-date highs earlier this month.
Although draw back within the US Greenback has been largely attributable to counterpart power as of late, this morning’s US retail sales data bolstered front-loaded expectations for Federal Reserve rate of interest cuts, which helped push the DXY Index to its lowest stage since September 13.
US DOLLAR INDEX PRICE CHART: WEEKLY TIME FRAME (OCTOBER 10, 2016 TO OCTOBER 16, 2019)
Chart created by @RichDvorakFX with TradingView
A weekly chart of the US Greenback brings to gentle…