Strategy Video: Market Puts Hurricane Shutters on Dollar Trades

By DailyFx | July 25, 2014 AAA

DailyFX.com -

Talking Points:

• The USDollar has advanced this past week despite a tepid rate forecasts and stubborn risk appetite

• A heavy economic calendar - FOMC, US GDP, NFPs - threatens to revive rate speculation and maybe even risk

• We look at all of the dollar-backed majors with a particular interest in EURUSD and GBPUSD

Find out what live events and webinars are scheduled this week with the DailyFX Live Webinar Calendar!

Event risk and fundamental trends weren't very favorable to the US Dollar this past week, but that didn't prevent the currency from marking a convincing bullish turn through the period. The scene is set for a more productive trend to develop, but conviction and momentum require the market's backing - and that is where fundamentals and market conditions come into play. To charge a move, we have the US 2Q GDP release, FOMC rate decision and Friday NFPs amongst other data. Yet, to chart a course with momentum, we may also need underlying conditions to shift from aimless range to concerted trend. We focus on the US Dollar in today's Strategy Video.

Sign up for John’s email distribution list, here.

comments powered by Disqus
Related Forex Analysis
  1. USD/JPY Traders Await Clearer Guidance As A Doji Signals Hesitation
    Forex News

    USD/JPY Traders Await Clearer Guidance As A Doji Signals Hesitation

  2. USD/JPY is dancing around 107.00
    Forex News

    USD/JPY is dancing around 107.00

  3. USD/CAD Tests Critical Barrier As Intraday Dojis Denote Indecision
    Forex News

    USD/CAD Tests Critical Barrier As Intraday Dojis Denote Indecision

  4. NZD/USD Stalls At 0.8000 Barrier As A Doji Arises & Volume Fades
    Forex News

    NZD/USD Stalls At 0.8000 Barrier As A Doji Arises & Volume Fades

  5. EUR/USD sidelined above 1.2700
    Forex News

    EUR/USD sidelined above 1.2700

Trading Center