U.S. Dollar IndexShort
DXY BEARS TO SELL SHORT
This weeks macro calendar is light on news and the market has time to digest previous weeks news cycle.
FEDs next rate cycle will heavily depend on data and the market has priced in of a 66% chance of a July rate hike for 25bpt hikes.
ECB has signaled clearly that they will continue to hike despite EU industrials slowing down. The labor market and wages growth is pressuring prices. Core inflation stands high and inflation projections suggest higher inflation further.
I think DXY has some room to descend to a strong support level around 101.7.
FEDs next rate cycle will heavily depend on data and the market has priced in of a 66% chance of a July rate hike for 25bpt hikes.
ECB has signaled clearly that they will continue to hike despite EU industrials slowing down. The labor market and wages growth is pressuring prices. Core inflation stands high and inflation projections suggest higher inflation further.
I think DXY has some room to descend to a strong support level around 101.7.
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