Despite the strong CB Consumer Confidence, the USD sees a shy rise !

forex pmi min
forex pmi min

The US CB Consumer Confidence rose 103.0 from 101.3 in the previous month, beating forecast at 96.1 .

Market Impact:

Despite the strong US data, the USD makes a small rise. The US dollar index dipped below 96.04, at the moment hovering around 96.04 levels.

EURUSD: The Strong US data was not enough to dip EURUSD, on the contrary , the pair jumped higher after US data, as we said before, the pair remains in recovery mode above the 1.1184 levels, and further upside towards the 1.1290/1.1330 levels remains very likely.

GBPUSD: The pair remains under pressure as long as trades below 1.5240 levels, further down towards the 1.5100 remains in sight.

USDJPY: the pair remains in the current range, trapped within 118.80/121.00 range…

Looks like, the market is still affected by Dudley’spech, there are concerns about the credibility or the Fed’s intention regarding a rate hike in the near future..

Anyway, this week, I think we must focus on NEWS regarding the corresponding currencies to US dollar, exclude from that, Fed Chair Yellen Speaks on Wednesday and  Nonfarm Payrolls data On Friday, for example data from Euro Zone may have a strong impact on EURUSD pair this week.

MARKET DATA

UPCOMING ECONOMIC EVENTS