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The US Dollar has been losing ground this week as the market ponders the outlook for the Federal Reserve after less hawkish commentary and FOMC minutes. Will USD sink further?
Crude oil gave up recent gains going into today’s session on API data and a US Dollar that might be at a crossroads with Fed Speakers and FOMC minutes less hawkish. Where to for WTI?
As the world burns and President Joe Biden’s inadequacies grow only more obvious, Democrats reassure themselves that voters next year will care most of all about domestic issues. And there, they think, Biden has something to be proud of: Bidenomics. The economy has delivered good news in recent months — inflation is slowing and employment is booming. The latest jobs numbers have been rapturously reported by a wide swath of the media. "Jobs report shock: American economy added a stunning 336,000 jobs in September," ran CNN’s headline.
The Euro appears to have a trend unfolding against the US Dollar, but ranges might be in play against the Japanese Yen and Swiss Franc. Where to for EUR/USD, EUR/JPY and EUR/CHF?
The Australian Dollar might be at a crossroads after more Fed commentary reiterated the case for a less hawkish stance. Equity markets got a boost, but uncertainty lingers. Lower AUD/USD?