Trading news

US Dollar tumbles to lows sub-100.00 ahead of data

US Dollar weaker on comments

The greenback faded the initial positive tone and has quickly dropped to test the relevant support area in the 99.90/80 band after Trump’s trade advisor P.Navarro said Germany is using ‘grossly undervalued’ euro to exploit its US and EU trade partners.

In the meantime, USD’s near term outlook remains Trump-dependent ahead of the FOMC meeting tomorrow. Market consensus expects the Committee to refrain from tightening the monetary policy further, as uncertainty over the policies under Trump’s administration has done nothing but rise since he took office.

Later in the NA session, Employment Cost Index during Q4 is due followed by the S&P Case-Shiller Index, Chicago PMI and the Conference Board’s Consumer Confidence gauge.

US Dollar relevant levels

The index is losing 0.47% at 99.95 facing the immediate support at 99.77 (low Jan.26) followed by 99.49 (low Dec.8) and then 99.41 (100-day sma). On the other hand, a break above 100.81 (high Jan.27) would open the door to 101.20 (20-day sma) and finally 101.44 (55-day sma).

AG Markets Review

Tuesday, 31 Jan, 2017 / 1:12

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://www.ag-markets.com/news/

Trading news

 

Equities back in the meat grinder after big tech earnings

  Stocks continue to melt down as big tech results underwhelm [...]

Posted on Friday, 30 Oct, 2020 / 9:18 under

Fear of national lockdown kept the Pound under pressure – GBP/USD Market Outlook – 30/10/2020

The Cable drops for the third consecutive day towards 1.29 on chatters of UK [...]

Posted on Friday, 30 Oct, 2020 / 9:03 under

OIL weighed down by wave 2 fears and spreading lockdowns – US OIL Market Outlook – 30/10/2020

WTI Crude closed below the 200 period SMA on the daily chart, falling by more [...]

Posted on Friday, 30 Oct, 2020 / 9:01 under