A few days ago, I wrote about how the U.S. Dollar Index had just made a “golden cross” the previous week. This is when the 50-day moving average crosses above the 200-day moving average and is a very widely followed technical bullish signal.
At the start of last week, I wrote about how as it is becoming increasingly certain that Clinton is going to win the election,
About ten days ago I covered
Yesterday I wrote about the legal procedures that have to be concluded before the U.K. can leave the European Union, and how they might contain one or two stumbling blocks which might stop the process.
The British Pound fell like a stone a couple of weeks ago, when British Prime Minister Theresa May announced that her Government would seek to trigger article 50 of the Lisbon treaty during the early part of next year. This would begin the 2-year legal process of Britain’s withdrawal from the European Union and the re-emergence of the United Kingdom as a truly sovereign and independent state.
Conventional wisdom is saying that markets are just going to chop around until the result of the U.S. Presidential Election becomes known late on 8
Yesterday we got the big event of this week’s Forex calendar: the release of the minutes of September’s meeting of the FOMC. The FOMC is the committee of the U.S. Federal Reserve (the central bank) which decides upon the interest rate. The minutes of its monthly meeting, released a few weeks after the fact, provide insight into the minds of the committee’s members regarding monetary policy, and also record the vote taken regarding whether to raise, lower or leave the interest rate unchanged.
The USD continues to strengthen. It has spent most of the past two years consolidating, and there is a lot of speculation that it is finally coiling up for a directional move.