Cromwell FX Market View Relief Rally Falters; US Dollar Returns

cromwell_weekly_060722-1536x826-1.png

This post was originally published on Trademakers

courtesy of trademakers

Last week saw the relief rally end as sell the rise came back into play. The US Dollar once again re asserted itself on the market pushing against important resistance levels. The Fed still remains much further ahead in its policy and this policy divergence once again brought strength to the US Dollar.

Despite its performance of the week before the Euro failed to find any upside potential and once gain moved lower. the 1.04 level still seems a critical support and its well supported. The ECB is beginning to speak more hawkish tones and a certain reality of facing a 50bps rate rise is now becoming much more of a reality.

GBP lost ground once more as the economic data released was mixed and the overall economic outlook remains challenging

The week before relief rally saw commodity currencies struggle and as markets turned negative once more these pairs underperformed again losing heavily against the US Dollar.

CAD remained unchanged during the week. Oil prices steadied during the week losing just 0.8% which meant the CAD remained in a tight range as markets look for where WTI may move next.

The week ahead data wise we have the RBA interest rate decision and a number of PMI releases along with the usual Friday NonFarm Payrolls.

Weekly Majors Market Performance

cromwell_weekly_060722

What is Cromwell FX?

Cromwell FX is a quantitative FX manager offering superior risk adjusted returns. The portfolio is the most liquid pairs . The strategy is fully automated and adhere to strict rick management procedures to control leverage and position limits.

The post

Cromwell FX Market View

Relief Rally Falters; US Dollar Returns

appeared first on JP Fund Services.

The post Cromwell FX Market View Relief Rally Falters; US Dollar Returns first appeared on trademakers.

Related Articles

cromwell_weekly_mainimage_221122.jpg

Cromwell FX Market View Quiet Week with Thanksgiving Weekend

cromwell_weekly_mainimage_221122.jpg

Cromwell FX Market View Crypto Markets Head the Volatility

cromwell_fx_market_view_blog_main.jpg

Cromwell FX Market View Surprise CPI. Could this be the Fed pivot point?

cromwell_fx_market_view_blog_main.jpg

Cromwell FX Market View Fed & BOE Hike; Payrolls Still Strong

cromwell_fx_market_view_blog_main.jpg

Cromwell FX Market View All eyes on the upcoming Fed

cromwell_fx_market_view_blog_main.jpg

Cromwell FX Market View Truss Resigns BoJ Intervenes

cromwell_fx_market_view_blog_main.jpg

Cromwell FX Market View US CPI Pressures Risk Assets

cromwell_fx_marketview_121022.png

Cromwell FX Market View Strong Payrolls Spur USD Strength

cromwell_fx_marketview_041022.jpg

Cromwell FX Market View BOE Intervenes

cromwell_chart_280922.png

Cromwell FX Market View All Hail the King Dollar

cromwell_chart_280922-1.png

Cromwell FX Market View All Hail the King Dollar

cromwell_weekly_210922-1536x747-1.png

Cromwell FX Market View US Inflation Spurs the USD Higher