[USDX] Watching the Market in the Short Term 2019 0717

Dollar Index, four-hour chart, source:FXStreet.com

cf. [USDX] 포지션 보유기간을 짧게 가져가야  2019 0623
cf. [USDX] Has Risen Too Much?  2019 0605
cf. [USDX] Downward Trend? 2019 0512
cf. [USDX] Non-Farm and Hourly Earnings 2019 0504

Federal Reserve Chair Jerome Powell suggested U.S. benchmark-cut on Tuesday, again. Market participants expect U.S.  benchmark rate is cut 25bp(0.25 percent) in late July. And U.S. President Donald Trump supports weak dollar.

These leaders view on greenback may lower greenback's price.

But dollar's price against six currencies basket rose to 97.36 on Tuesday. The interest-rate-cut event is already reflected price and the good U.S. economy support dollar's rising. U.S. Retail Sales month over month was 0.4 percent and it surpassed market's expectation 0.1 percent. Dollar Index, USDX broke through 97.0 again.

Euro zone leader suggests weak euro, as U.S. leaders do on greenback. ECB President-nominee Christine Lagarde suggests the Quantitative Easing and it means euro's diving. And emerging markets prefer weak their currencies.

All currencies are supported their price down, it may become the Currency Conflict around the world. It restrains dollar's down.

Four-hour chart of Dollar Index has lowered its peaks gradually though this rising. It seems that it has difficulty of breaking-through 97.60. Gjallarhorn thinks the price of greenback will move up and down in some channel.

It is available to watch the market in the short term.






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