The Currency Scene:
News, Events, and Stories about currency from around the world.

Talking Points:

- It’s been a big week for the US Dollar[1] and with a loaded calendar next week looks to be the same. USD[2] has gained 3.1% in the past ten days, and this looks to be at least partially-driven by a short-squeeze scenario as rate hike bets get priced further-out in Europe and the UK.

- EUR/USD[3] and GBP/USD[4] have both underwent significant reversals, and are fast approaching support levels of interest. Commodity currencies have been especially friendly to USD-bulls. Next week brings PCE to get a bit of additional inflation data, FOMC[5] is on Wednesday and next week finishes with a bang with the release of April Non-Farm Payroll numbers.

- DailyFX Forecasts have been updated for Q2, and are available from the DailyFX Trading Guides page[6]. If you’re looking to improve your trading approach, check out Traits of Successful Traders[7]. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide[8].

Do you want to see how retail traders are currently trading the US Dollar? Check out our IG Client Sentiment Indicator[9].

Dollar Strength Continues to Fresh Three-Month Highs

This has been a big week for the US Dollar[10]. After spending most of the past year trending-lower, including a strong bearish drive that continued through January, there weren’t many positive theses for USD-strength. The fact that the down-trend wiped out as much as 15% of the Greenback’s value while the Federal Reserve was one of the only major Central Banks raising rates just

Read more from our friends at Daily FX:

Pin It