The dollar is keeping in a firmer spot after the more hawkish remarks by Fed chair Powell yesterday. As Treasury yields march higher, the dollar is catching a strong tailwind and pushing for key technical breaks since yesterday.
- EUR/USD nearing its 100-day moving average at 1.0517 and key support near 1.0500
- USD/JPY pushing for a break above its 200-day moving average at 137.41
- GBP/USD falling below its 200-day moving average of 1.1903 and January low of 1.1840
- USD/CHF threatening a push above its 100-day moving average at 0.9412
- USD/CAD pushing above its December highs above 1.3700
- AUD/USD extending its downfall to lowest since November - eyeing the 0.6500 mark
- NZD/USD breaking its 200-day moving average again and 38.2 Fib level at 0.6145, frees up the path towards 0.6000
- Gold pushing back towards February lows, 100-day moving average at $1,802 in focus
It's pretty much a broad-based dollar rally but there might be caveats to it, depending on the economic data releases ahead of the FOMC meeting later this month.
The Friday jobs report will be the first major landmine but we'll get a bit of a teaser today via the ADP employment report. The big one of course will be the US CPI data next week but just be mindful, that it will come amid the blackout period for Fed officials - which starts on Saturday.
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