Some signs of recovery in the U.S manufacturing sector and construction spending boosted the dollar as markets feared that resilience in the U.S. economy will give the Fed enough headroom to keep raising interest rates.
On the H3 chart, bearish momentum is clearly formed, I think the price line will return to retest the 196x support area before continuing the downtrend, We invite you to watch today's Non-Farm newsletter for the best trading direction. Let me know your ideas below in the comments. Thank !
On the H3 chart, bearish momentum is clearly formed, I think the price line will return to retest the 196x support area before continuing the downtrend, We invite you to watch today's Non-Farm newsletter for the best trading direction. Let me know your ideas below in the comments. Thank !
Comment:
The Fed won't meet to decide on rates again until September, and Chairman Jerome Powell last week pointed to the importance of upcoming data in helping policymakers decide on a future rate path. .
However, policymakers also note that to do this, they need to keep interest rates high for a period of time.