Forex Today: US Dollar finds a foothold, eyes on Fedspeak and US Retail Sales data – by eren_fxstreet Majors Currencies Macroeconomics Commodities CryptoCurrencies
The positive shift seen in risk mood made it difficult for the US Dollar to find demand on Monday and the US Dollar Index snapped a two-day winning streak. Early Tuesday, the DXY holds its ground as markets await April Retail Sales data from the US. In the European session, Eurostat will release thegrowth data for the first quarter and ZEW Survey - Economic Sentiment for the Euro area and Germany will also be looked upon for fresh impetus.
registered small gains on Monday but closed below 1.0900. The pair stays relatively quiet early Tuesday. Citing Eurosystem sources, MNI reported on Monday that the European Central Bank was most likely to raise key rates once or twice more in this tightening cycle.climbed to its highest level in over 10 days above 136.00 on Monday. The pair seems to have gone into a consolidation phase early Tuesday and was last seen trading a few pips below 136.00.gather strength.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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