USD Weakness Continues Despite Positive US Data - Forex News by FX Leaders

USD Weakness Continues Despite Positive US Data

Posted Thursday, February 16, 2017 by
Skerdian Meta • 1 min read

The USD weakness has been the theme of the forex market in the last two months or so. However, in the last few days, we have seen the USD buyers fight back until yesterday in the afternoon.

Today so far looks like another of those days where the Buck can´t seem to find a reason to get out of bed. The US economic data published a while ago was great but the buck couldn´t find its feet. Instead, it lost another 20 pips or so before making a small comeback in the last few minutes. 

Building permits beat expectations by 60k while the Philly FED manufacturing index made a massive jump from 18.5 to 43.3.

Unemployment claims came out below expectations and last month´s housing stats were revised higher too, so it's a good number all around. 

Yet, the buck is still feeling dizzy as I speak. The market is probably waiting for Trump like it has done recently, but his agenda is quite light today. 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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