Home Featured The Midweek update 19 April 2023

The Midweek update 19 April 2023


The Dollar is rebounding at levels that are close to its yearly low due to increased hawkish language from FED officials.


The Greenback has found significant support at the annual low level of 100.50. This buying pressure in a psychologically important area is mainly due to hawkish statements made by several relevant members of the FED. This group of members seems to have a general view that inflation is down, but not by a significant amount to warrant reversing course. There is a growing consensus, however, that more rate increases are possible and will continue to be made for as long as inflation remains contained.

Additionally, the better-than-expected economic data coming from the world’s second largest economy (China) eased major anxiety over a global economic slowdown and led to the Dollar struggling to attract investors looking for safe-haven assets. Yesterday, the Dollar experienced a slight correction. However, it continues to trade above an important buy zone.

Technical Analysis (D1)


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