27.12 - USD is dropping price because of the slowdown
- by Anna K.
The last more or less active day of the year. This sweet-sweet air of a small vacation and rest that we can all enjoy while people around the world are leaving trading for a few days and are trying to enjoy a little break. Of course, not all the countries in the world are going to have the possibility to rest. And of course there is still going to be some activity in the market, but it is going to be so weak compared to what we are used to, that it is better not to think about it as about activity at all.
And the slow-down is felt even by the strongest assets like USD. The slowdown is resulting in the fall of the most popular asset and that is all there is to it. USD did not have the best last couple of weeks with all the declines and weaknesses demonstration, but the trade deal high turned out to be a very powerful stimulus that created a growth wave that we have been rising ever since the deal was announced. And of course, this wave had to die out some time. And right now is just the time.
USD chart slid lower and we can now enjoy the growth of euro and pound against the greenback. Of course, traders’ activity is going to resume sooner or later, but whether it is going to result in the further growth of USD is not up to us to say.
Today is going to be tough. Use trading signals to help you get through the day.