Morning market update 13 08 2021
By Scott Andrews
Morning market update 13 08 2021:
DXY remains happy holding around 92.90 as last night saw PPI (MoM) (July) come out at 1.0%, Core PPI (MoM) (July) at 1.0% both beating expectations and Initial Jobless Claims seeing 375k this week which was exactly as forecast. EURUSD sell trade remains open although it’s looking flat today news wise also noticable was the break down of the GBPUSD back below 1.3850 with the GDP figure coming out strong although the king US dollar thesis remains in place here now. Thought on the DXY direction for the next two weeks is a hold below 93.00 until the Jackson Hole meeting at the end of August. Although a watch on a break out through 93.00 earlier this month will heighten the bullish case for the US dollar and offering some trend continuation opportunities on the AUDUSD and GBPUSD.
USD index 13 08 2021:
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
-THE END-