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Weekly Forex Analysis July 11 – 15, 2022 – The Dollar Remains Strong on Higher Estimates For The US Inflation

July 11, 2022 | 5:31 pm | The 5%ers' Blog > Trading Room
July 11, 2022 | 5:31 pm
The 5%ers' Blog > Trading Room
Weekly Forex Analysis July 11 – 15, 2022 - The Dollar Remains Strong on Higher Estimates For The US Inflation

JP Morgan expects the oil price to reach $380 if Russia cuts exportations.

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In today’s trading room, we discussed the dollar flying against other currencies, as we see the DXY reaching a top at 107.00.

Mostly against the European basket, the Dollar remains very strong. As Ruben explained, there are two mains reasons for that:
1- European economies didn’t start to fight inflation, in opposition to the US, which had already hiked its interest rate several times.
2- The Dollar remains strong against worldwide inflation and a risk-off environment.

Also, Ruben had an explanation regarding the forecast on Oil. JP Morgan expects the oil price to reach $380 if Russia cuts exportations.

Finally, Ruben discussed several CAD pairs and managed an interesting trade on Gold in a consolidation zone.

 

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