• Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

Dollar stutters after bullish start to the day

Started by forex4you, May 30, 2023, 05:54 pm

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

forex4you

Dollar stutters after bullish start to the day

The greenback has gradually erased its early advance in European trading and is now pretty much lower across the board. EUR/USD is up 0.3% to 1.0735 and contesting its 100-hour moving average with USD/JPY back down to 140.05 after briefly recovering to 140.65 earlier here.

The pound is the biggest beneficiary though with GBP/USD now back above 1.2400 and even seeing a notable reversal in near-term sentiment:

Over the past few weeks, cable had struggled to break free of its 100 (red line) and 200-hour (blue line) moving averages but is managing just that in European trading today.

The jump is seeing buyers regain near-term control after having neared a test of its 100-day moving average last week. That key level is now seen at 1.2290. Given the turnaround, cable buyers might have room to work with back towards 1.2500 but a lot will depend on dollar sentiment this week.

Treasury yields are looking rather heavy today and that seems to be weighing hard on the dollar, with 10-year yields down 10.5 bps to 3.715% at the moment. Fed rate hike odds continue to sit near 50-50 but the bid in bonds seem to be a bit of an outlier, coming as we see the US debt ceiling deal being reached over the weekend.



                This article was written by Justin Low at www.forexlive.com.

Source: Dollar stutters after bullish start to the day

forexlive.com
Forex4you offers wide range of trading accounts with DDE, NDDE and STP executions including more than 100 instruments. Forex4you is based on MetaTrader 4 trading platform. Clients have the advantage of daily technical and fundamental analysis, one-click trading, economic calendar, mobile trading applications, news and forecasts from Dow Jones (UK) and signals from Trading Central (US). In addition, Forex4you offers Forex dictionary, educational materials and lot of "How to" guides about Forex.

forex4you.com   share4you.com   betiforex.com Forex  beginners-guide-to-iq-option-complete-review forex4you review forex4you Forex4you Review - One of the Best Forex Brokers Forex4you Review - One of the Best Forex Brokers forex4you - PAMM forex broker review and feedback from traders forexbinaryoption.ae aroundworld24.com  Affiliate programs  Forex4you Affiliate programs   



forex4you.com