US Dollar Spikes as Fed Expected to Turn Hawkish Following Key Data

The USD is buying and selling greater, about now we have been warning for the entire of January as we noticed the market coming greater right into a corrective section (click on right here). Additionally, this view was then supported by sturdy NFP and better US inflation CPI report final week, so the market has to do a repricing as speculators perhaps went too far with their expectation of cuts from the FED for this yr. Effectively, dx is coming greater properly, however in C wave of a corrective restoration so remember the fact that nonetheless later this month we may even see a brand new reversal decrease. However after all, we must watch out and affected person earlier than calling any new high for the USD index. Resistance is at 104.Grega