26.07 - USD demonstrates perfect growth this week
- by Anna K.
With our attention shifted elsewhere we have totally forgotten to look at the USD. And it was worth looking at this week. With so many news coming out of GB and EU, USD was pushed aside but it didn’t really get in the way of week-long growth with practically no retracements.
I mean, look at this – this is the chart that shows us the movement of the greenback for the last 5 days. Isn’t it perfect?
Well, we have neglected it for the rest of the week, why start talking about it now? Well, today is the day that we are going to see an advanced GDP data q/q report. And it is a very important report. It is going to tell us about the state of economic health of USA and show us a broad variety of numbers. And we need to know as much as possible about the state of health of USA, especially after Powell dropped a bomb on us with the rate cuts announcement and took no further actions.
Ever since then we have been waiting for some additional information on the situation in the USA, but it seems that it is not that horrible after all, with rates still remaining the same and no one really talking about them. Will we get some additional info today? Well, we certainly hope so as the constant growth doesn’t really tell us anything, just that the traders are trusting USD this week.
Should we trust this growth today as well? Trading signals are going to give us the answer!