The Trump bump seemed to get renewed life last week on the release of tax reform plans. How does this affect US dollar? Let's look into this 2 October US Dollar Technical Video Analysis from HotForex.
United States Market Outlook
Construction spending for August (Monday) is expected to be unchanged. September vehicle sales (Tuesday) are expected to improve to a 17.0 mln clip, from 16.0 mln previously, though there’s downside risk from the hurricanes.
The September ADP (Wednesday) should climb 190k following Augusts 237k surge. There should be little hurricane effect here given the way the data is tabulated. The services ISM (Wednesday) is seen edging up to 55.5 after rising 1.4 points to 55.3 previously. The August trade deficit (Thursday) is forecast narrowing to -$42.5 bln versus July’s -$43.7 bln.
2 October US Dollar Technical Video Analysis
The euro saw fresh lows in early London trading as European participants follow the moderate offered tone that the common currency has been seeing in Asia-Pacific. Catalonia’s attempt at an independence vote, and Madrid’s heavy-handed response, has been weighing on sentiment.
The dollar has been bid in early week trading amid a relatively thin session in Asia, where China, Hong Kong and a number of other nations have been enjoying public holidays.
2 October US Dollar Video Analysis article was written by Stuart Cowell, the Market Analyst at HotForex. This article is provided as a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.
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