30.05 - expect USD turbulence and be on the lookout today
- by Anna K.
With a lot of European countries and markets being closed for the bank holiday today we are looking at the greenback. The currency is expecting one of many variations of GDP report. In general today’s report is going to tell us everything about the state of the economy and about national economic health of the greenback – quite important for traders to focus on the performance of the greenback against the basket of sic major rivals as we are always looking at currency couples often forgetting to look at the primary source of the turbulence – the greenback itself.
And when it comes to turbulence the greenback delivers today. Traders obviously can’t make up their minds as to what they have to do with it. It has been surging but seems to be on the low position at the moment. It seems that this outcoming report is to put things into their own places today and we are going to wait for the additional information to come in order to really understand what is the prognosis for the USD trading.
In the meantime, we need trading signals to tell us what to do until the report is issued.