Home Forex News Dollar Index Pulled Up After FOMC Meeting Minutes Released

Dollar Index Pulled Up After FOMC Meeting Minutes Released

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Meanwhile Euro fell sharply from its recent high after dollar bid weigh every currencies to grind lower. Additionally Fed also called for additional fiscal aid notably for the most vulnerable section of the society and they mentioned to purchase $120 bn bonds per month as part of yield curve control mechanism.

Parallely minutes also pulled down Gold and US equities as Federal Reserve damped investors’hopes of clarity on the future path of interest rates. Going forward key economic releases from Euro zone and the UK will guide the broad dollar move in coming days. However sterling got supported after recent uptick in headline inflation which may push rate setters to rethink rate guidance.

TREND : WEAK BEARISH

Time                                      :           20/08/2020

Pivot                                      :           1.1876

Technical View                     :             LONG ABOVE 1.1896

Target                                   :            1.1916, 1.1938, 1.2003, 1.2051

Technical View                     :             SHORT BELOW 1.1856

Target                                   :            1.1836, 1.1786, 1.1749, 1.1674

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