USD Falls: Claims/PPI Data Dey Send Dollar Down! W'etin Dey Happen?
Colaboradores
Chale, the US Dollar dey face pressure o! E dey go down after the latest claims and PPI (Producer Price Index) data komot. The figures show say jobs market no too strong like before, wey be big change from how things dey usually be.
What the Data Dey Show?
If you check the continuing claims data, you go see say e dey rise. This one dey show say more people dey claim unemployment benefits for longer time. For the initial claims, the trend no break out from the range wey e dey since 2022, but e dey push higher small small.
The PPI data, plus the CPI (Consumer Price Index) wey dem release yesterday wey show say things no too cost like before, go likely make the PCE (Personal Consumption Expenditures) number good. Dem go release estimates for that one later today, as the number crunchers dey put am for their models.
How E Dey Affect Major Currency Pairs?
- EURUSD: E extend go new highs for the day, wey be the highest since 2021. Next target dey around 1.1683 – 1.16916. Buyers dey in control.
- USDJPY: E move back below the 100 and 200 bar MA on the 4-hour chart. Next support dey between 142.10 and 142.347.
- GBPUSD: E trade go new high for the year, wey be the highest since February 2022. Next target dey around 1.36445. Above that, dem go target 1.37683.
- USDCHF: E extend toward the low wey e be since April 2025. Swing area dey between 0.8097 and 0.81288. Next target dey around 0.80389.
So, in short, the USD dey struggle small, and we dey watch how e go play out for the forex market o. Keep your eyes open!