USD: With the markets highly sensitive to the outcome of the US Fed reserve chairman’s speech today, it is not surprising to the see the currency markets consolidating early on this week. In my opinion, the dollar is vulnerable to another downward move like what we saw from May to August, especially if the FED maintains its stance today without noting any change in conditions. Basically, there are signs of global recovery and there are also signs of growth in the US, but if we see the FED maintain its support as well as not raising rates, the USD should remain bearish.

USD Sep ’20 Daily Chart
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Tony Cholly

Senior Market Strategist

Tony majored in Economics at Eastern Illinois University. He performed his thesis on the market price of corn in the market and the factors that affect it. Tony was drawn to futures trading because of the opportunity to have financial gains in an economic environment. He prides himself on working with customers one-on-one and developing a trading strategy based on the client's needs and wants.

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