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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Official Website]: Inflation expectations cool down, the US dollar index retreats from the 50-day moving average." Hope it will be helpful to you! The original content is as follows:
XM Forex APP News-On Friday (July 18), the US dollar index (DXY) fell to 98.33 during the session, down 0.30%, and the US dollar retreated from the key 50-day simple moving average (SMA) around 98.70. Following a steady rebound from the low of 96.377 in July, the US dollar index encountered obstacles below the 50-day moving average and failed to break through the recent high of 98.950. Traders currently view 97.664 as the next technical support level, which is the 50% Fibonacci level of the short-term retracement. Is the Fed's austerity narrative losing momentum? U.S. retail sales data last week were stronger than expected and the number of initial unemployment claims fell, briefly boosting the dollar and weakening market expectations for a sharp Fed rate cut. Traders currently expect the rate cut to be about 45 basis points for the remaining 2025, a slight decrease from the 50 basis points at the beginning of this week. The expected adjustment stems from June inflation data showing that the Consumer Price Index (CPI) monthly gains hit a five-month high, which provides support for the Federal Reserve to postpone a deeper rate cut. However, investor sentiment remains fragile. Trump's newly adopted tax cuts and spending plans have sparked concerns about fiscal sustainability, while the president continued to criticize Federal Reserve Chairman Jerome Powell for failing to cut interest rates faster, injecting new political uncertainty into the market outlook. The above content is all about "[XM Forex Official Website]: Inflation expectations cool down, the US dollar index draws back from the 50-day moving average". It is carefully vifu.netpiled and edited by the editor of XM Forex. I hope it will be helpful to your trading! Thanks for the support!
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