US Dollar near yearly lows ahead of volatile Thursday
- The US Dollar bounces back into September’s range and holds near yearly lows on Thursday.
- Besides a big slew of data, a bunch of Fed speakers are set to rock the US Dollar.
- The US Dollar Index bounces off a 15-month low and is set to enter a rough patch with high volatility at hand.
The US Dollar (USD) holds steady near yearly lows ahead of a very volatile day expected on Thursday. Besides a bulk data release, no less than eight US Federal Reserve (Fed) policymakers are set to speak, including Fed Chairman Jerome Powell. Comments will be watched more than ever by market participants after Bloomberg reported on Wednesday that a bond trader took out 118,000 future contracts betting on a big interest rate cut in the Fed’s next meeting in November, the largest size traded on record ever.
On the economic data front, a bulk release will unfold at 12:30 GMT. Besides the weekly Jobless Claims, the August Durable Goods Orders and the third reading of the US Gross Domestic Product (GDP) for the second quarter will be released at the same time, and volatility is bound to pick up once the data comes out.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.