Price action was mixed for the Greenback this week, and ultimately, a net losing campaign for USD bulls. It was battle between COVID-19 headlines, Fed speak, and improving U.S. economic data that had traders bouncing back and forth all week.
Another round of USD selling into the weekend, possibly a reaction to some combination of the rising COVID-19 cases headlines, the disappointing consumer sentiment data, and/or some risk-on vibes sparked by positive comments from the Director of the National Institute of Allergy and Infectious Diseases (Dr. Fauci is optimistic we’ll see COVID vaccine breakthroughs by early Fall).
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Every day, I will present to you my findings and daily commentaries on what recently happened in the economic arena, possible shifts in sentiment, economic events to watch out for, and their effects on currencies.