The US Dollar is not nervous, the market is still depressed!

thecekodok


The lackluster movement of the market on Wednesday yesterday kept investors cautious as the US dollar currency displayed a mixed performance.


However, the US dollar is seen to still manage to defend its recovery after experiencing a decline following the reaction to the United States (US) NFP employment data report at the close of trading last week.


The focus in tonight's New York session is on US jobless benefits claims data for investors to watch for the latest figures for last week's total claims following a bounce in the previous week.


The increase in the dollar index (DXY) was limited below the level of 103.40 points and started to show a decline.


The bullish pattern on the US 10-year treasury yield also started to decline after the previous rise reached around 3.97%.


Uncertain market sentiment affected investor caution in trading this week.


Concerns about the risk of a global economic recession continue to plague the market with a fall in stock markets around the world.


Especially Wall Street and the Japanese stock market, investors are seen reducing their asset holdings, triggering various bad speculations at the moment.


The Federal Reserve's (Fed) monetary policy continues to be in the spotlight as expectations grow for more aggressive policy easing.


The Fed is expected to cut interest rates by 50 basis points following fears that the world's largest economy is heading for a recession that could affect the entire global market.


In fact, there are views that say the Fed is too late to implement policy easing due to their previous stubbornness in maintaining tight policy for too long.

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