USD Falls: Claims/PPI Data Dey Cause Price Drop For Forex Traders For Ghana
Colaboradores
Eei folks, listen up! The US Dollar dey face some challenges as claims/PPI data be say dey push the price down. This dey affect major currency pairs like EURUSD, USDJPY, GBPUSD, and USDCHF. Make we break am down for you:
USD Dey Fall: Wetin Dey Happen?
The USD dey weaken because PPI data no too strong plus initial and continuing claims dey go up. This dey show say jobs market no dey too perform like before. If you check the continuing claims data well well, you go see say e dey break higher.
Initial Claims:
Although the initial claims never break out of the range since 2022, e dey push upwards gradually.
PPI & CPI:
With the PPI plus the CPI wey come out yesterday wey no too strong, e go mean say the PCE number go be good. Dem go release estimates for that one later today as people wey dey work with the numbers take put am inside their models.
How E Dey Affect Major Currencies
- EURUSD: E don reach new highs for the day, since 2021. The next target be 1.1683 – 1.16916. Support dey the April high wey be 1.15726. Buyers dey control.
- USDJPY: E don move back below the 100 and 200 bar MA for the 4-hour chart. Support dey around 143.57. Major support dey between 1.2.10 and 142.347.
- GBPUSD: E don trade to new high for the year and since February 2022. The next target be swing area from 2022 wey be 1.36445. Above that one, traders go dey target the 50% midpoint from the 2014 high to the 2022 low, wey be 1.37683.
- USDCHF: E don extend towards the low of a swing level since April 2025, between 0.8097 and 0.81288. The low for 2025 be 0.80389.
So, if you dey trade forex for Ghana, make you watch these trends so you no go lose your money. Abeg consult expert before you invest.