Tomorrow brings a vitally important Federal Reserve rate decision and the driver will probably be the bank’s dot plot matrix as the Fed updates their projections for the rest of the year.
Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities & stocks into the weekly / monthly open.
COT report reveals USD shorts trimmed and gold longs rising, though commodity currencies are on the verge of breakouts despite short bets against them. Wall Street indices see real-money accounts stepping in.
The US Dollar held just inside of 102 on Monday and then pulled back after CPI tomorrow. Bulls have so far held a higher-low but this puts a lot of emphasis on tomorrow’s economic calendar.
The USD has tried to build a bounce over the past couple of weeks and the big question now is whether Chair Powell will fuel the rally at tomorrow’s FOMC rate decision.
It was a big week for the USD and next week is another, as the FOMC rate decision takes place on Wednesday and DXY is still holding on to a bounce.
The US Dollar continues to rally and tomorrow brings a big driver in the matter with Eurozone CPI followed by Non-farm Payrolls.
It’s been a surprisingly strong start to the year for EUR/USD but the question now is whether bulls can maintain the trend.
The US Dollar has had a brutal start to the year and this is in stark contrast to the bullish sentiment that drove DXY into 2025 trade.
The U.S. Dollar is bouncing from a big spot of long-term support but the question now is whether USD/JPY bulls and EUR/USD bears can continue to run. Gold is pulling back from a test at 3500 and Bitcoin has broken out of a falling wedge formation.
It’s been a big week across markets and there are still several macro setups of interest as we approach the Thursday ECB meeting.
USD went oversold on the weekly for only the second time in the past six years, and last year’s instance led to a massive reversal a couple months later. But context is very important here.
