The Dollar Index on the daily time frame seems to be forming a base and gradually moving higher. The expectation is to see it achieve between 93.40 – 93.60 in the coming days. This will add downward pressure on the indices as well as the metals. Apart from the ECB interest rate decision scheduled on Wednesday, U.S. Initial Jobless Claims and Crude oil Inventories, I do not anticipate that the U.S. JOLTS Job Openings (Jul) or U.S. Core CPI (MoM) (Aug) has the ability of swaying the market from it current short term bearish trajectory.
EUR/USD
The ECB said on Thursday it was increasing the overall size of its Pandemic Emergency Purchase Programme (PEPP) by 500 billion euros to 1.85 trillion euros. It extended the scheme by nine months to March 2022. Whilst on Friday, ECB policymaker Francois Villeroy de...