US dollar chops in an uneasy market


Blip largely erased

The US dollar has begun to strengthen once again as the dip buyers in equities fail to get any real traction.

The drops in AUD and NZD are particularly stark given the blockbuster Australian jobs report and very strong New Zealand GDP data. Both tried to bounce in the past hour but have failed.

I think the equity market is in charge at the moment. There’s a school of thought that the Fed signaling a hike now doesn’t matter because it’s so far off in the future and that two hikes in 2023 are no big deal. I think it takes more than a few hours to price in that kind of charge. I suspect we see more equity selling before there’s a real dip to buy.
Invest in yourself. See our forex education hub.

Articles You May Like

My Forex Strategy Explained
Poor China Data Knocks Down Asian Markets, Aussie and Kiwi Tumble
Kira-kira beginilah cara gw jadi Miliarder dari Trading Forex 😁🙏 #kenwilboy
Gold jumps Rs 455; silver climbs Rs 500
Gold steady after release of Fed minutes, debt talks in focus