The US Dollar’s support breakout remains lackluster after Fed Chair Jerome Powell’s speech offered little information on monetary policy, leaving markets focused on CPI data later this week.
The US Dollar soared as the S&P 500 sank after a rosy ADP employment report shaped high expectations for Friday’s non-farm payrolls report. Will the DXY Index reverse?
The Australian Dollar soared on Wednesday as traders boosted Chinese economic confidence. Still, AUD/USD was unable to clear key resistance, maintaining a neutral bias.
Tesla’s market capitalization plunged 72% since last year’s peak, which means it no longer towers over competition like it used to. Meanwhile, the Nasdaq 100 sank with Fed woes.
Gold prices and the Dow Jones sank as the US Dollar rallied. Supportive US GDP revisions bolstered hawkish Fed policy bets. Markets are vulnerable to thin trading conditions.