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The dollar continued depreciating on Thursday, falling almost % all the other major currecncies. Interestingly, this happened despite positive US Uneployment data, where Unemployment Claimes fell by 2K, making it clear that FED´s policy decision is still having a huge impact on curecny market.
Philly Fed Manufacturing Index also ended up beating the consensus, at 12.4 points. As both those data releases are rather important, a correction in the price of USD is likely in the next couple of days, especially when those announcements have had no effect on the currency market yet.
The impact of the key indicators beating expectation can´t be seen yet
Source: investing.com
Technical indicators are, however, not speaking in favour of a correction. In fact, the vast majority of them, including RSI, MACD, and CCI are suggesting that this trend is likely to continue. It might therefore be wise to wait for another important data release and act accordingly.
Philly Fed Manufacturing Index also ended up beating the consensus, at 12.4 points. As both those data releases are rather important, a correction in the price of USD is likely in the next couple of days, especially when those announcements have had no effect on the currency market yet.
The impact of the key indicators beating expectation can´t be seen yet
Source: investing.com
Technical indicators are, however, not speaking in favour of a correction. In fact, the vast majority of them, including RSI, MACD, and CCI are suggesting that this trend is likely to continue. It might therefore be wise to wait for another important data release and act accordingly.
