Dollar Weakness following through on US reopening

Dale J Pinkert Independent Analyst

Dollar weakness continues in response to the U.S. reopening. The USD/JPY is on the verge of negating its breakout, while yields remain positioned for a potential upward move. Silver is showing signs of a double top today, with Gold trading above the 61.8 level. Meanwhile, Bitcoin continues to lag behind in the current risk-on environment. The session is hosted by Dale.

Author

Dale J Pinkert

Independent Analyst

Former Member of the Chicago Mercantile Exchange (IOM Division), Dale's market forecasts have been aired on Financial Television and Radio station including CNBC.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD declines toward 1.1700 on solid USD recovery

EUR/USD turns south and declines toward 1.1700 on Wednesday. A solid comeback staged by the US Dollar weighs heavily on the pair, as traders look to USD short covering ahead of US CPI on Thursday. However, the downside could be capped by hawkish ECB expectations.

GBP/USD slides toward 1.3300 after softer-than-expected UK inflation data

GBP/USD has come under intense selling pressure, eyeing 1.3300 in the European session on Wednesday. The UK annual headline and core CPI rose by 3.2% each, missing estimates of 3.5% and 3.4%, respectively, reaffirming dovish BoE expectations and smashing the Pound Sterling across the board.

Gold clings to modest gains above $4,300

Following Tuesday's volatile action, Gold regains its traction on Wednesday and trades in positive territory above $4,300. While the buildup in the USD recovery momentum caps XAU/USD's upside, the cautious market stance helps ithe pair hold its ground.