The king dollar has been weakened, as signals from the Fed appear to be less-than-hawkish, which was cemented when a weaker-than-expected US jobs report implied that policy is having the desired effects.
This week, the primary focus will be on the rhetoric of Fed speeches. If Fed members mention the possibility of hikes, we could see treasury yields increase and the dollar rebound. However, if Fed members remain dovish, the dollar could continue to weaken and other currencies could strengthen further.
1. Fed Chair Powell Speaks - Wednesday 2. Initial Jobless Claims - Thursday 3. Fed Chair Powell Speaks - Thursday 4. Consumer Sentiment data - Friday 5.Total of 12 Fed speaker events All attention remains on the Fed.
Be Safe and Good Luck to All Traders . . . .
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Current price action retrace back into previous SIBI of 03 Nov 2023 , if this SIBI got respected for this week , there's high probability chances of bearish continuation momentum