DXY Macro / Technical 2 minute review
Good-morning guys,
Today I’m back with another 2 minute macro review, where I will go over the the economic status covering the Dollar today.
Let’s dive in:
U.S. remains strong at all data points, which will leave the FOMC open for more hikes in September. Inflation still sticky + growth is solid and jobs are still great.
All indicators show that we are escaping the possibility of an upcoming recession.
Although the FED is nearing the end of its tightening cycle, which stimulates an economy by lowering interest rates and that will result Dovishness for the Dollar. As this tend to be unattractive for foreign investments and decrease the currency’s relative value.
This was it for today on the macro side lets dive into the technical aspect of the DXY;
The DXY is in a firm uptrend aligning with my macro view. I see the DXY grabbing the high and setting a new leg. I want to play this one out on the EURUSD which is Dovish in my eyes so we’ll have to figure that one out!
Thanks for reading my 2 minute daily review.
See ya!
Today I’m back with another 2 minute macro review, where I will go over the the economic status covering the Dollar today.
Let’s dive in:
U.S. remains strong at all data points, which will leave the FOMC open for more hikes in September. Inflation still sticky + growth is solid and jobs are still great.
All indicators show that we are escaping the possibility of an upcoming recession.
Although the FED is nearing the end of its tightening cycle, which stimulates an economy by lowering interest rates and that will result Dovishness for the Dollar. As this tend to be unattractive for foreign investments and decrease the currency’s relative value.
This was it for today on the macro side lets dive into the technical aspect of the DXY;
The DXY is in a firm uptrend aligning with my macro view. I see the DXY grabbing the high and setting a new leg. I want to play this one out on the EURUSD which is Dovish in my eyes so we’ll have to figure that one out!
Thanks for reading my 2 minute daily review.
See ya!
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