Dollar Fightback, Dow Breakout, AU Employment Data | Trade Zone with Joe Jeffriess
Thanks for checking out this week’s wrap-up.
The dollar found demand this week after being hammered in the previous week. Retail Sales data or next week’s rate rise expectations? Whatever it was, the USD found some stability and spent most of the week on the rise.
After the surprise from local employment data, the AUD made a nice move, reigniting rate rise expectations. Next week’s CPI data could be very interesting for what happens next from the RBA.
This week, the Dow was another surprise, closing higher for nine sessions straight, its best run since 2017. Price also broke above key resistance in its new leg higher. The Nasdaq was doing its thing until earnings missed on Thursday, setting off some decent selling.
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