Hopes of a dovish turn by the Federal Reserve are adding negative pressure to the Dollar
USD/MXN bullish trend remains intact, with downside attempts held above 18.60.
The US Dollar is practically flat on the daily chart, consolidating gains following a five-day rally. Bulls met resistance at the 18.75 area on Monday and the pair has remained trading sideways on Tuesday, with downside attempts limited above 18.60 so far.
A somewhat brighter market sentiment is weighing on the safe-haven US Dollar and hopes of some dovish hint after the Fed meeting are adding pressure on the USD.
Recent US Data has fuelled hopes of a September cut
The US labour market is showing signs of exhaustion, unemployment increased in June, and inflation is finally drawing close to the 2% level. Data released last week revealed that the PCE Prices Index remained at unchanged at a 2.5% yearly rate in June.
These figures have boosted expectations that the Bank might start cutting rates in September, instead of December as previous Fed projections suggested.
In this context, Wednesday’s Fed monetary policy decision will be closely watched. The bank will highly likely leave rates unchanged, but any signal towards earlier rate cuts is likely to weigh on the USD.
Peringatan: Pendapat yang disampaikan sepenuhnya merupakan milik penulis dan tidak mencerminkan posisi resmi Followme. Followme tidak bertanggung jawab atas keakuratan, kelengkapan, atau keandalan informasi yang disediakan, serta tidak bertanggung jawab atas tindakan apa pun yang diambil berdasarkan konten ini, kecuali dinyatakan secara tertulis.
Suka artikel ini? Tunjukkan apresiasimu dengan memberi hadiah untuk penulis.
Balasan 0
Terpopuler
Belum ada komentar.Jadil yang pertama untuk membagikan komentar.
Belum ada komentar. Jadil yang pertama untuk membagikan komentar.