Short on the DXY, weaking strength ahead post Trump tweets
Heading into next week very bearish against the dollar. While the rally of last week was enjoyable if you were long on the dollar it seems the macroeconomic environment has changed and the tides may turn. On the fundamental side of things you have Trump threatening more tariffs against China, kicking off the trade war again and shocking the markets into correction. NFP wasn't anything particularly new, simply showing what the FOMC already had decided on: growth is slowing and needs a push, hence the cuts. Seeing as cuts will take time to ripple through the economy (especially with slowed manufacturing indicated by the PMI), the dollar will have to correct in the meantime until the global economy tells us otherwise.
On the technical side of things there isn't much to look at except an EMA and MA cross (9 & 18 respectively), and the fact that the DXY rejected off of the top area of the range its been in since the beginning of the trade war. The rally of last week combined with FOMC and the trade war ceasefire showed possibilities of a breakout, alas trump had other ideas and his tweets sent the market tumbling down seeking shelter from the scary bird who brought news of more tariffs.
On the technical side of things there isn't much to look at except an EMA and MA cross (9 & 18 respectively), and the fact that the DXY rejected off of the top area of the range its been in since the beginning of the trade war. The rally of last week combined with FOMC and the trade war ceasefire showed possibilities of a breakout, alas trump had other ideas and his tweets sent the market tumbling down seeking shelter from the scary bird who brought news of more tariffs.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.