USDIndex Daily
The USDIndex After yesterday’s correction, the market has stabilized following the US bank troubles which pushed global stock markets lower. Wednesday’s post Powell 105.85 2023 high has been replaced at present by a holding pattern pre-NFP 104.70. The Yen Underperformed after the BoJ maintained rates at hold, and Kuroda, outgoing governor, suggested it was too soon to leave ultra-accommodative policy settings. The decision wasn’t really a surprise, but there had been lingering speculation in markets that Kuroda could spring a final surprise before handing over to Ueda. USDJPY Lifted to within a pip 137.00But the Dollar lost ground to the dollar EUR And even more so versus Sterling And CHF. Sterling saw an unexpectedly strong rebound in GDP at start of year. This added to speculations about whether the BoE will continue hiking rates. EURUSD Just below the 1.0600 mark, Cable just under 1.2000.
Elsewhere, Emerging Market As trends are set, currencies are also looking at key levels. USDTRY Is pushing to 19.0000, USDZAR Trades at 18.3340 Rejecting an initial rally to the 19.0000 zone And USDMXN He has escaped a test of sub- 18.0000 this week all the way to Continue reading…
