- The US Dollar has rallied up to fresh 2018 highs after yesterday’s FOMC rate decision, which brought no changes to rates and largely came in-line with market expectations. Prices started to pullback after the close of the US session, and that retracement has continued through Asian and European sessions.
- Tomorrow brings Non-Farm Payrolls for the month of April, and the expectation is for a gain of +191k jobs last month. Perhaps more compelling is the Average Hourly Earnings portion of the report, and how this may impact inflation expectations after the March 2.4% CPI print out of the United States.
- DailyFX Forecasts have been updated for Q2, and are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.
Do you want to see how retail traders are currently trading the US Dollar? Check out our IG Client Sentiment Indicator.
US Dollar Dip and Rip Around FOMC
The rally in the US Dollar has continued in a rather interesting manner after yesterday’s FOMC rate decision, which was largely within the realm of general market expectations. Despite the lack of surprises within the Fed’s statement, the US Dollar posed a fairly quick pullback of around .5%, only to soon find support and rush up to a fresh 2018 high just a couple of hours later. Prices started to pullback (again) after the close of the US session, and that retracement has continued through