OctaFX | OctaFX Forex Broker
Open trading account

USD: Rally running out of steam – Swissquote

FXStreet (Delhi) – Arnaud Masset, Market Analyst at Swissquote, notes that the USD rally is running out of steam as the latest economic indicators fail to support dollar bulls in the post FOMC rate decision environment.

Key Quotes

“September Richmond Fed manufacturing index came in on the soft side yesterday, printing at -5 versus 2 median forecast, compared to a reading of zero a month earlier.”

“Moreover, the dollar is lacking the catalyst to reverse the current trend of most dollar crosses. EUR/USD is getting closer to the 1.1087 support, implied by the low from September 3rd. On the upside, the closest resistance can be found at 1.1460 (high from September 18th). We expect EUR/USD to trade mainly range-bound, given today’s light economic calendar.”

Eurozone PMI and German PMI: Light at the end of tunnel - ING

Teunis Brosens, Research Analyst at ING, suggests that a slowdown in emerging markets will hit Eurozone exports sooner or later. But for now, new orders are at a five month high, boding well for Eurozone business activities in the months ahead. Draghi may not need to make good on his promise to expand or extend QE when necessary just yet.
Read more Previous

GBP/USD in fresh lows sub-1.5300

The offered tone around the sterling keeps gaining traction on Wednesday, now dragging GBP/USD to fresh lows in the 1.5290 area...
Read more Next
Start livechat