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Date:
15th Feb 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

USD Shaking off Weakness, post gains versus JPY and CHF

The U.S. Dollar is off on a firm footing, registering gains versus the Swiss franc and the yen. It comes following last week's draw-down, a continuation of a selloff that began in early Feb following news of a weak labor market. Overly, traders are cautious and closely monitoring economic indicators. These are possible catalyzers that will either confirm the end of the USD squeeze or officially mark the bear market's end in a revival that will see the greenback post higher highs going forward.


Details: 

Despite mixed signals, the most critical determinant of higher highs is whether the U.S. government will go through with its plans of administering the Coronavirus pandemic to willing citizens by April. Amid this is the infection count and hospitalization trending lower, a relief for health facilities. Following plans of flashing more money in the economy, it is highly likely that this week's retail sales reading will exceed expectations as economists forecast. If that is the case, it may be the first expansion since September 2020. At the same time, there are flash PMIs that may soften in this month's preliminary readings.


Impact on the USD: 

Neutral to Bullish. The beginning of the end of the USD selloff largely depends on economic factors. Higher retail sales may build to higher inflation, indicating citizen's increasing purchasing power.


More market news over on our Blog


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