By Scott Andrews
Morning market update 13 08 2021:
DXY remains happy holding around 92.90 as last night saw PPI (MoM) (July) come out at 1.0%, Core PPI (MoM) (July) at 1.0% both beating expectations and Initial Jobless Claims seeing 375k this week which was exactly as forecast. EURUSD sell trade remains open although it’s looking flat today news wise also noticable was the break down of the GBPUSD back below 1.3850 with the GDP figure coming out strong although the king US dollar thesis remains in place here now. Thought on the DXY direction for the next two weeks is a hold below 93.00 until the Jackson Hole meeting at the end of August. Although a watch on a break out through 93.00 earlier this month will heighten the bullish case for the US dollar and offering some trend continuation opportunities on the AUDUSD and GBPUSD.
USD index 13 08 2021:
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