US Dollar Spikes as Fed Expected to Turn Hawkish Following Key Data
Gregor Horvat | Jan 17, 2024 04:33AM ET
The USD is trading higher, about we have been warning for the whole of January as we saw the market coming higher into a corrective phase (click here ). Also, this view was then supported by strong NFP and higher US inflation CPI report last week, so the market has to do a repricing as speculators maybe went too far with their expectation of cuts from the FED for this year. Well, dx is coming higher nicely, but in C wave of a corrective recovery so keep in mind that still later this month we may see a new reversal lower. But of course, we will have to be careful and patient before calling any new top for the USD index. Resistance is at 104.
Grega
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