US Dollar’s Weakness Continues, Rate Cut Sentiments Weigh

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 See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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