US Dollar Talking Points:
- It’s been a quiet week in the US Dollar[1] after a riveting first half of Q4.
- The October sell-off looms large as the early-November bounce in the US Dollar[2] caught resistance at the 50% marker of that prior move. Next week brings some items of interest on the economic calendar, can USD[3] bears make an entrance back into the equation?
- DailyFX Forecasts are published on a variety of markets such asthe US Dollar[4] or the Euro[5] and are available from the DailyFX Trading Guides page[6].
A Busy Holiday Week Awaits
Next week brings a holiday in the United States with Thanksgiving on Thursday. The following day is ‘Black Friday’ which means that many US markets will be open for only half of the day and likely, a number of traders or market makers will be taking that day off for vacation. Despite this, the economic calendar for next week[7] is rather busy with a series of high-impact releases scheduled for each day Tuesday-Friday. The big US releases take place on Wednesday morning with specific focus on the release of Core PCE, the Fed’s preferred inflation gauge. The big question is one of USD trends and whether that release or those data points can spur a break in the recent impasse that’s shown in US Dollar price action[8].
DailyFX Economic Calendar: Tuesday, Wednesday High Impact Releases
Data taken from DailyFX Economic Calendar[9]
US Dollar Catches Support but Can Buyers Drive the Next Trend?
As looked at in yesterday’s webinar[10] the US Dollar has been relatively quiet so far this week. After a strong sell-off in October
