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Dollar rally fizzles out as commodities rebound

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    On Tuesday, the equity rally slowed and so did the US dollar momentum. EUR/USD initially held close to the 1.12 barrier. USD/JPY hovered mostly in the lower half of the 120 big figure. The US trade deficit widened sharply but was ignored. Later in the session, the dollar lost some ground, especially against the euro. The move coincided with a rebound of several commodities including oil. Long term interest rate differentials between the US and Europe moved also in favour of the euro. EUR/USD

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