Dollar seems on hold in it's 2.618 fibonacci support after NFP data released. Will it go higher next week?
I see dollar still waiting next data release. I mention JOLTS Job Opening & CPI which both of them crucial in current context of US macro-economy. Strong job opening & CPI means investor and retail trader must be no worries about US macro-economic despite concern about trade war. Otherwise, weak job opening & CPI means labor market and inflation continue cooling down. It will push THE FED to give clear path about their plan for future Interest Rate.
So, dollar could make sideways movement (or even gain buyer) but overall still in bearish momentum. Dollar still driven by concern of trade war and if job opening comes weaker than expected, it could gives more power to seller.
I see dollar still waiting next data release. I mention JOLTS Job Opening & CPI which both of them crucial in current context of US macro-economy. Strong job opening & CPI means investor and retail trader must be no worries about US macro-economic despite concern about trade war. Otherwise, weak job opening & CPI means labor market and inflation continue cooling down. It will push THE FED to give clear path about their plan for future Interest Rate.
So, dollar could make sideways movement (or even gain buyer) but overall still in bearish momentum. Dollar still driven by concern of trade war and if job opening comes weaker than expected, it could gives more power to seller.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.