This week is going to be anything but calm for USD. We are waiting for the new wave of earnings reports from American companies including Apple and others – and the worse the earning reports, the worse it is going to be for USD as there is not going to be enough returns coming back to the budget of the country. But in our case earning reports are not exactly the biggest evil as we are waiting for the jobs report on Friday. And the worse the numbers in there are going to be, the lower the USD is going to fall. Although it seems that traders do not really care about that right now. It seems that right now USD is the hottest currency in the markets.
The chart might be growing at the moment but it is possible that sooner rather than later we are going to see traders’ change of heart. Why? Well, it is very simple. Jobs reports is one of the primary indicators for the economic health of the country. And given the fact that rates were about to be cut we need to see the numbers that are going to tell us – economy of the US is just fine. Only after that we will be able to trade USD with no fear.
But now all we can do is wait and enjoy the growing pace of the USD which is hovering near the 2-week high point today.
What is going to help us deal with the growth and possible fall? Trading signals of course!