After a choppy and mixed week, the U.S. dollar closed out Friday as a net loser. U.S. economic updates were arguably net positive this week, but its likely traders were concerned with the failure to see another stimulus package from Congress, as well as the rising pace of new COVID-19 cases and deaths in the U.S.
Broad turn lower in the dollar starting in the London session. There doesn’t seem to be a direct catalysts, but risk sentiment flipped positive as equities, which was likely influenced by risk sentiment moving positive as equities and commodities moved higher while bond yields fell on the session. Could it been a positive reaction to the continued rebound in European industrial production data?
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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.