The USD enjoyed a potent mix of good data, positive comments from Fed officials and upcoming tax cuts. The yen did not manage to ride on fears from yet another North Korean missile test. Will it continue higher? It began with the highest new home sales in a decade , continued with a similar record from consumer confidence and then we got GDP at 3.
He also sent a message of continuation in his confirmation hearings. The US Congress is advancing step by step and in a determined manner to pass significant tax cuts. While the average American will not enjoy it , nor will growth really rise, this is helpful to the US dollar. North Korea tested yet another missile, this time with a potential capacity to reach the East Coast of the US.
This worrying development did not rattle the yen for a change. For a change, we will get a significant number from Japan: See all the main events in the Forex Weekly Outlook. The pair got close to that level. It is closely followed by The round level of worked as a cushion to the pair in November. In June, the pair found support several times at Further below, the cycle low of Recent US economic data was just too good to ignore, and after the pair dropped it could stabilize around current levels.
We may get some jitters from the Fed, so a full rally of the dollar is still unlikely. The USD enjoyed a potent mix of good…. The weak Japanese GDP actually pushed…. This time, the tensions…. By Yohay Elam on Dec 3, Majors Dec 3, 0. Majors Nov 26, 0. Majors Nov 19, 0. Majors Nov 10, 0. Majors Nov 3, 0. Majors Oct 27, 0. Majors Oct 20, 0. Majors Oct 13, 0. Majors Oct 6, 0. The US dollar did make some gains and the pair…. Majors Sep 29, 0.More...