- July 24, 2018
- Posted by: Joey Benedid
- Category: Market News
The Dollar is mixed today as expectations are that the Fed will continue on its current plans of a gradual hike flight path despite Trump’s criticism about how it is impacted his progress on the economy. With limited primary data and focus on the Mueller investigation, USD trading has been relatively quiet. US House Price Index (0.3% vs 0.1%) and US Manufacturing PMI (55.1 vs 55.4) are slated for release today, with Advanced Goods Trade Balance (-$66.6b vs -$64.8b) and GDP (4.2% vs 2.0%) set to come out later this week.
EUR is down this morning after data showed a slow start to Q3 with PMI coming in lower than expected. GBP remains pinned over continuing Brexit concerns with May unable to appease members of the House or EU counterparts.
Short term support and resistance 1.3065 and 1.3220 respectively, with RSI at 59 and the 200-day moving average residing at 1.2804.