The dollar is trying to recover in today's trading from the US Federal Reserve's strike
The US dollar achieved a modest rise during trading on Thursday, as the green currency attempted to recover from the losses incurred last session as a result of negative federal developments.
In this regard, the dollar incurred strong daily losses at the end of yesterday’s session, estimated at about 0.43%, affected by the less stringent statements of US Federal Reserve Governor Jerome Powell, which he made yesterday evening, as Jerome Powell said that postponing the interest rate reduction step may harm the US economy, It is expected that the interest rate reduction cycle will begin in the second half of this year, while hinting that despite the strong conditions in the labour market and the outstanding performance of the US economy, this will not prevent the US Federal Reserve from taking interest rate reduction measures.
This coincided with the pressures facing the dollar at that time immediately after the release of economic forecasts by the US Federal Reserve, which indicated the possibility of reducing US interest rates three times this year, which means that the US Federal Reserve did not take into account the rise in inflation rates during the past two months, and here it is worth noting. Pointing out that the markets now see a 65% chance that the US Federal Reserve will start cutting interest rates at the June meeting, according to the performance of tracking federal interest rates issued by the CME Group.
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The US dollar achieved a modest rise during trading on Thursday, as the green currency attempted to recover from the losses incurred last session as a result of negative federal developments.
In this regard, the dollar incurred strong daily losses at the end of yesterday’s session, estimated at about 0.43%, affected by the less stringent statements of US Federal Reserve Governor Jerome Powell, which he made yesterday evening, as Jerome Powell said that postponing the interest rate reduction step may harm the US economy, It is expected that the interest rate reduction cycle will begin in the second half of this year, while hinting that despite the strong conditions in the labour market and the outstanding performance of the US economy, this will not prevent the US Federal Reserve from taking interest rate reduction measures.
This coincided with the pressures facing the dollar at that time immediately after the release of economic forecasts by the US Federal Reserve, which indicated the possibility of reducing US interest rates three times this year, which means that the US Federal Reserve did not take into account the rise in inflation rates during the past two months, and here it is worth noting. Pointing out that the markets now see a 65% chance that the US Federal Reserve will start cutting interest rates at the June meeting, according to the performance of tracking federal interest rates issued by the CME Group.
If you like this informative data and technical analyse please support my ideas and follow thanks for kindness.
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DXY nicely hitting demand zine if you like my idea please guys like comment and support
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The US dollar rises on its way to recording broad gains for the second week, after the interest rate hike in Japan failed to stop its upward march, and the sudden interest rate cut in Switzerland highlighted the gap between the US Federal Reserve’s attitudes and its peers around the world.
