DXY:Will Fed Cut Rates in September?
Updated
Hey Traders,
In today's session, we're eyeing a potential selling opportunity in the DXY around the 104.600 zone. Currently, DXY is in a downtrend and is undergoing a correction phase, approaching the key support and resistance area at 104.600.
From a fundamental perspective, the downtrend in inflation and easing economic conditions in the US suggest that a rate cut might be on the horizon in September. This dovish environment could weaken the dollar further.
Stay cautious and trade safe,
Joe
In today's session, we're eyeing a potential selling opportunity in the DXY around the 104.600 zone. Currently, DXY is in a downtrend and is undergoing a correction phase, approaching the key support and resistance area at 104.600.
From a fundamental perspective, the downtrend in inflation and easing economic conditions in the US suggest that a rate cut might be on the horizon in September. This dovish environment could weaken the dollar further.
Stay cautious and trade safe,
Joe
Note
the us unemployment has been rising since MarchNote
DXY attempting to break above 104.3, building it way to the trendNote
Broke above 104.300, let's see where CPI will take us this week!Note
Broke above 104.400, almost in the trend!Note
Fed Pres Barkin: Fed will debate wether the inflation is still elevated or not!Note
Bank Of America expects a rate cut in SeptemberNote
DXY is testing the trend again!Note
Fed daly sees a decent improvement in inflation but not at the main target yetNote
Fed's Williams: Central Banks must own the inflation control mission!
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