- The US Dollar has rallied up to fresh 2018 highs after yesterday’s FOMC[1] rate decision, which brought no changes to rates and largely came in-line with market expectations. Prices started to pullback after the close of the US session, and that retracement has continued through Asian and European sessions.
- Tomorrow brings Non-Farm Payrolls for the month of April, and the expectation is for a gain of +191k jobs last month. Perhaps more compelling is the Average Hourly Earnings portion of the report, and how this may impact inflation expectations after the March 2.4% CPI print out of the United States.
- DailyFX Forecasts have been updated for Q2, and are available from the DailyFX Trading Guides page[2]. If you’re looking to improve your trading approach, check out Traits of Successful Traders[3]. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide[4].
Do you want to see how retail traders are currently trading the US Dollar? Check out our IG Client Sentiment Indicator[5].
US Dollar Dip and Rip Around FOMC
The rally in the US Dollar has continued in a rather interesting manner after yesterday’s FOMC rate decision[6], which was largely within the realm of general market expectations. Despite the lack of surprises within the Fed’s statement, the US Dollar posed a fairly quick pullback of around .5%, only to soon find support and rush up to a fresh 2018 high just a couple of hours later. Prices started to pullback (again) after the close of the US session, and that retracement has continued through
