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USD testing 90 will it bounce this week ?

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USD testing 90 will it bounce this week ?

By Scott Andrews

 

USD index 10 05 2021

With NFP missing expectations significantly on Friday the focus this week will I’ll be watching for is the:

  • US 10 Year Note Auction coming out at 01:00 GMT+8 time zone.
  • US CORE CPI (MoM)
  • US CPI (Mom) both out at 20:30 Wednesday GMT+8.

I will be waiting to see the release of this data before making a trade on the USD index, as the miss on the NFP was attributed to worse than expected job creation such as generous unemployment benefits. Therefore I’d like to see the market provided with more information before taking a trade. As this could be a small blip in the long thesis on the US index currently price is close to a support level and will let the data be released to see if the economy is picking up to pre Covid levels quicker than the Federal Reserve anticipates leading to higher inflation before first planned for.

USD testing 90 will it bounce this week ?

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