Start Trading Now Get Started
  1. DF
  2. Forex News
  3. Forex Today: US Dollar Reaches 1-Month High
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: US Dollar Reaches 1-Month High

By Adam Lemon
Adam Lemon
By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

   The US Dollar Index reached a 1-month high yesterday, as US treasury yields rose, and hawkish comments emanated from the ECB.

   

  1. Over the past day, the US Dollar Index advanced to reach a new 1-month high following a period of consolidation. The Dollar made these same medium-term highs in the AUD/USD and NZD/USD currency pairs. This Dollar rise is accompanied by a rise in US treasury yields.
  2. Most stock markets have moved lower over the past day.
  3. In the Forex market, the US Dollar has been the strongest major currency since the Tokyo open today. The Australian Dollar has been the weakest, putting the AUD/USD currency pair into focus. There remains a valid long-term bullish trend in the EUR/USD currency pair but it will come into serious question if we get a daily close below $1.0900 at the end of today’s New York session.
  4. Cocoa futures reached a new multi-year high price last Friday, which will keep trend traders interested in this commodity on the long side. It has been exhibiting a powerful bullish trend for more than a year now.
  5. There will be an important data release today of Canadian CPI (inflation) data, which is expected to show a monthly contraction of 0.3%.
  6. There will be additional data releases today of:
    • UK Claimant Count Change (unemployment claims)
    • US Empire State Manufacturing Index
    • The Governor of the Bank of England will be testifying before the UK Parliament

Top Forex Brokers

1
Get Started 74% of retail CFD accounts lose money Read Review
Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

Most Visited Forex Broker Reviews

Latest News

View More Articles

Related News

View More Articles

Top Forex Brokers

More »

Bonuses & Promotions

View All