The USD is strengthening since the opening of the European session and is slowly gaining back the losses of yesterday.
On Wednesday, the pair was volatile. US dollar managed to hit new local highs when inflation rate statistics were released.
On Wednesday, the Yen strengthened against the USD amid the publications of macroeconomic data form Japan and the FOMC Minutes.
A growth is expected. Assumingly, the third wave of the senior level 3 is forming.
Assumingly, a large correction in the form of a triangle within wave B has formed, and wave C started developing.
In fact, after reaching its low in April 2001, gold closed higher for twelve consecutive years– something that had never happened before in ANY financial market with ANY asset.
Federal Reserve officials said last month that while conditions for raising interest rates were approaching, they need more confidence inflation is moving toward their goal, according to meeting minutes that prompted investors to reduce bets for a September liftoff.
A midafternoon rally in U.S. stocks faded as encouragement from Federal Reserve minutes proved fleeting and investors refocused on China and the global economy.
Oil plunged to the lowest level in more than six years in New York after a government report showed that U.S. crude stockpiles unexpectedly increased.
U.S. stocks fell for a second day as a selloff in emerging markets fueled concern global growth is slowing at the same time the Federal Reserve considers the path for higher interest rates.