The JPY is the strongest and the USD is the weakest as the NA session begins

August 19, 2024
-FCHFX, US Dollar

August 19, 2024 at 01:21PM
The weakness n the USD restarted from where we left it last Friday as the market remains in a risk-on mood and looks forward to the coveted Fed’s rate cuts.

We don’t have much on the agenda today as there’s just Fed’s Waller speaking at 13:15 GMT/09:15 ET and then we get the Conference Board’s LEI index at 14:00 GMT/10:00 ET which is not a market-moving release.

The recent Fedspeak is clearly hinting to a September rate cut, which is not surprising given that the market has already fully priced in such a move. Fed Chair Powell will likely seal the deal on Friday at the Jackson Hole Symposium.

Other than that, it’s just ebb and flow for now as we await the US Flash PMIs and Jobless Claims on Thursday.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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