Yesterday's U.S. economic reports will define a trend in the U.S. dollar
U.S. Dollar Index
The U.S. Dollar Index (DXY) declined by 0.39% yesterday and continued to hover around the eight-month low.
Possible effects for traders:
Traders were hesitant to make big bets ahead of next week's central bank meetings, such as the Federal Reserve (Fed) and the European Central Bank (ECB). In addition, Asian countries celebrate the Lunar New Year, so most majors trade in the previously established ranges.
However, volatility increased yesterday as the U.S. releases several important macroeconomic reports. Durable Goods Orders, GDP Growth Rate, and Jobless Claims published at yesterday.
New Home Sales data released . The U.S. dollar will grow if the figures come out better than expected. Alternatively, the DXY may finally break below the important 101.50–10120 area if the reports show that the U.S. economy is slowing.
U.S. Dollar Index
The U.S. Dollar Index (DXY) declined by 0.39% yesterday and continued to hover around the eight-month low.
Possible effects for traders:
Traders were hesitant to make big bets ahead of next week's central bank meetings, such as the Federal Reserve (Fed) and the European Central Bank (ECB). In addition, Asian countries celebrate the Lunar New Year, so most majors trade in the previously established ranges.
However, volatility increased yesterday as the U.S. releases several important macroeconomic reports. Durable Goods Orders, GDP Growth Rate, and Jobless Claims published at yesterday.
New Home Sales data released . The U.S. dollar will grow if the figures come out better than expected. Alternatively, the DXY may finally break below the important 101.50–10120 area if the reports show that the U.S. economy is slowing.
