USD Index extends the decline and targets 104.00 ahead of NFP – by pabspiovano DollarIndex Currencies Majors NFP
Further losses remain likely after a breakdown of the 200-day SMA., which tracks the greenback vs. a bundle of its main competitors, remains well on the defensive and revisits multi-month lows around 104.50 at the end of the week.The index loses ground for the third session in a row on Friday and drops to levels last seen back in late June near 104.40, always in response to the increasingly deterioratedfor the greenback and the pick-up in the sentiment surrounding the risk-associated universe.
The march lower in the dollar comes in tandem with the absence of direction in US yields across the curve, which seem to have met some initial contention in recent multi-week lows. While hawkish Fedspeak maintains the Fed’s pivot narrative in the freezer, upcoming results in US fundamentals would likely play a key role in determining the chances of a slower pace of the Fed’s normalization process in the short term.Eminent issues on the back boiler
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD bulls keep the reins above 0.6800 ahead of RBA’s Lowe, US NFPAUD/USD portrays the typical pre-data/event anxiety as it seesaws near 0.6800 during the early Asian session on Friday, after refreshing the 11-week h
Read more »
USD/CHF bounces off 13-day-low as market consolidates ahead of US NFPUSD/CHF snaps two-day downtrend as buyers prepare for US jobs report. Cautious mood, rebound in yields allow bears to take a breather amid sluggish s
Read more »
EUR/USD eases above 1.0500 as ECB’s Lagarde, cautious mood ahead of US NFP probe bullsEUR/USD portrays the market’s cautious mood as it steadies near a five-month high surrounding 1.0530 during early Friday. That said, the major currenc
Read more »
Gold Price Forecast: XAU/USD upside appears more compelling ahead of US NFP – Confluence DetectorGold Price Forecast: XAU/USD upside appears more compelling ahead of US NFP – Confluence Detector – by anilpanchal7 Gold XAUUSD Confluences Fed NFP
Read more »
NZD/USD climbs back closer to 0.6400 mark, multi-month high ahead of US NFP reportThe NZD/USD pair attracts fresh buying on the last day of the week and maintains its bid tone through the early European session. This marks the fourt
Read more »
AUD/USD defends 0.6800 as RBA’s Lowe appears optimistic, US NFP eyedAUD/USD struggles to keep the 0.6800 round figure on the table despite the latest rebound from the intraday low as traders remain cautious ahead of th
Read more »