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Hello everyone,
Welcome to the new month. It's likely to be a turbulent month in fx and equity markets . This is the final month before the US elections. The US dollar is at crossroads. On the one hand, economic indices point to a recovery and fuel the need for a rate hike. On the other hand, the upcoming elections create an air of uncertainty for speculators and all other central banks from Europe to Asia are actually easing rather than tightening monetary policy.
A look at the technicals reveals that the dollar index has traded in a 700 pip (93-100) range since March 2015. It looks set to retest the highs of that range in the coming weeks as speculation builds for a November or December rate hike. The fuel for this speculation could begin with a strong NFP number this week (≥173k). On the other hand, a disappointing number would provide buy opportunities around the lower bound of the range (93).
Happy trading.
Welcome to the new month. It's likely to be a turbulent month in fx and equity markets . This is the final month before the US elections. The US dollar is at crossroads. On the one hand, economic indices point to a recovery and fuel the need for a rate hike. On the other hand, the upcoming elections create an air of uncertainty for speculators and all other central banks from Europe to Asia are actually easing rather than tightening monetary policy.
A look at the technicals reveals that the dollar index has traded in a 700 pip (93-100) range since March 2015. It looks set to retest the highs of that range in the coming weeks as speculation builds for a November or December rate hike. The fuel for this speculation could begin with a strong NFP number this week (≥173k). On the other hand, a disappointing number would provide buy opportunities around the lower bound of the range (93).
Happy trading.
