AUDUSD: All factors indicate dollar dominance
Hello Investors !! The dollar amid rising concerns of slowing economic growth after the US Fed Reserves’ Chair hawkish testimony is down with investors worried that the Fed’s commitment to tame inflation could trigger recession. He said that an aggressive interest rate hike could lead to an economic contraction and called a soft landing “very challenging” in his testimony to the senate on Wednesday. Powell also said that he would not rule out a 100 basis point increase in interest rates confirming what I previously said about the Central Bank doing whatever it takes to tame inflation and restore price stability.
As long as the Fed continues to tighten monetary policy and there are concerns about global growth , this pair will certainly prefer the downside. That being said , I have no interest in trying to dinghy with the overall trend and will continue to look for rallies to short.
This is an article not Financial advice
If you have any questions please leave a comment and I will answer them
And please support this idea with your likes and comment. Thank you
As long as the Fed continues to tighten monetary policy and there are concerns about global growth , this pair will certainly prefer the downside. That being said , I have no interest in trying to dinghy with the overall trend and will continue to look for rallies to short.
This is an article not Financial advice
If you have any questions please leave a comment and I will answer them
And please support this idea with your likes and comment. Thank you
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