US Dollar’s Weakness Continues, Rate Cut Sentiments Weigh - Forex News by FX Leaders
US dollar index DXY

US Dollar’s Weakness Continues, Rate Cut Sentiments Weigh

Posted Monday, July 15, 2019 by
Arslan Butt • 1 min read

Early on Monday morning, the US dollar traded cautiously as markets waited for the release of Chinese GDP data. In addition, the US dollar remained under pressure over increased rate cut sentiments.

China’s GDP grew as expected in the second quarter of 2019 at 6.2%, and the dollar continues to trade bearish. At the time of writing, the US dollar index DXY is trading at around 96.84 as it waits on the Fed to cut interest rates in order to tackle low inflation rates in the US.

As of now, markets have almost completely priced in a 0.25% rate cut by the Fed at its upcoming meeting at the end of this month. The likelihood of a 0.5% rate cut now stands at around 20%.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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