Experts say the USD is still under pressure after the US economy announced a "shocking" non-farm payrolls report for July and revised the May and June figures down sharply compared to forecasts and previous figures.
Experts say the rapidly weakening job market is fueling speculation that the US Federal Reserve (Fed) will soon cut interest rates in September.
However, in the last session, the USD basically stopped falling sharply, when data on the US service and aggregate purchasing managers' indexes increased quite well in July. This has helped the USD not to fall too much.
The USD is expected to remain volatile when the US announces weekly employment on Thursday. Next week is the July consumer price index (CPI). This is an important indicator for the Fed to make a decision on interest rate policy at its meeting in September. This index will strongly affect the trend of the USD.
Experts say the rapidly weakening job market is fueling speculation that the US Federal Reserve (Fed) will soon cut interest rates in September.
However, in the last session, the USD basically stopped falling sharply, when data on the US service and aggregate purchasing managers' indexes increased quite well in July. This has helped the USD not to fall too much.
The USD is expected to remain volatile when the US announces weekly employment on Thursday. Next week is the July consumer price index (CPI). This is an important indicator for the Fed to make a decision on interest rate policy at its meeting in September. This index will strongly affect the trend of the USD.
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Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/xauusdtradingfx
🔴9-12 signals per day
🔴Free knowledge support
🔴24/7 support for newbies.
🔴You always have priority.
(don't copy, click on the links!)
🟢Telegram Channel: t.me/xauusdtradingfx
🔴9-12 signals per day
🔴Free knowledge support
🔴24/7 support for newbies.
🔴You always have priority.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.