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15th Mar 2021
Dalmas Ngetich, for CryptoAltum News Team

The USD remains in Limbo, positively correlates with the Bonds Market

Technical candlestick arrangements weigh down the greenback that's now down versus major currencies, especially the CAD and the GBP. Overly,USD price action remains choppy. Buoyed by solid economic data from Canada, the CAD is the strongest among the majors. The USD's weakness reflects the state of the treasuries. After weeks of worry, yields contracted, buoying the stock market and pulling down the USD.


There are myriads of factors that may slow down the greenback in the weeks ahead. Although the FOMC meeting might catalyze demand for the USD if Jerome Powell signals optimism on the economy, economists expect core retail sales and retail sales to underwhelm. If data are weaker than expected while Canada exceeds expectations, the CAD uptrend might continue in the weeks ahead. 

Impact on the USD:

Bearish. Inflation expectations, the flight to higher-yielding assets, the $1.9 trillion stimulus package's approval, and the distribution of COVID-19 relief checks may negatively impact the USD. However, comments by FED officials on the treasuries market and their projection of the economy might help prop the USD.

More market news over on ourBlog

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