USD Snaps Back, US Dollar Price Action into NFP: EUR/USD, GBP/USD, USD/JPY

Описание: There was legitimate concern coming into the week that a larger USD-breakdown, fueled by carry unwind in USD/JPY, could create a massive move in the currency space. As looked at in the Tuesday webinar the Dollar had moved to its most oversold on the daily chart in more than five years, and President Trump hailed the move as 'great.'

But notably this was countered by comments from US Treasury Secretary Scott Bessent a day later when he said that the US did not intervene in USD/JPY. And then on Friday, Kevin Hassett said that there were a lot of reasons to want a strong Dollar; and given that Hassett has long been considered a Trump loyalist, these comments seem to be more of a walking back from the administration rather than a refuting of his boss' comments earlier in the week.

Why would they want to walk that back? Well, if we did see a massive carry unwind scenario US equities can be taken along for the ride.

But at this point what happens from here will be driven by markets, and I looked at backdrops around the USD in this video with EUR/USD, GBP/USD and USD/JPY as front-and-center.

The Tuesday webinar: https://youtube.com/live/MbLG48yuaCY?...

Last Friday's video:    • US Dollar Slammed: USD Price Action Setups...  

Next Tuesday's webinar: https://youtube.com/live/IvmWoU_AkD4?...

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