The US dollar index hit a one-month high yesterday as US Treasury yields rose and hawkish comments came from the ECB.
➡️ Over the past day, the US dollar index advanced to a new 1-month high after a period of consolidation. The dollar reached the same medium-term highs in currency pairs AUD/USD And NZD/USD . This rise in the dollar is accompanied by a rise in US Treasury bond yields.
➡️ Most stock markets have moved lower over the past day.
➡️ In the Forex market, the US dollar has been the strongest major currency since Tokyo opened today. The Australian dollar was the weakest, putting the AUD/USD currency pair at the center of attention. There remains a valid long-term uptrend in the EUR/USD currency pair , but will come into serious question if we get a daily close below $ 1.0900 at the end of today's New York session.
➡️ Cocoa futures last Friday have reached a new multi-year high price, which will keep trend traders interested in this commodity on the Long side. It has been showing a powerful bullish trend for more than a year now.
➡️ Today there will be an important data release on the Canadian Consumer Price Index (inflation), which is expected to show a monthly contraction of 0.3%.
➡️ Today further data will be released relating to:
- Change to UK claimant count (unemployment claims)
- US Empire State Manufacturing Index
- The governor of the Bank of England will testify before the British Parliament
Credit by DailyForex.com