Ei Ghana! Forex market dey shake small oo! The US Dollar (USD) dey fall after claims and PPI data come out. E be like jobs market inside America dey show weakness, wey e dey different from how things be before. Continuing claims data dey trend upwards, wey e dey clear for everyone to see.
Initial Claims Still Dey Range
Initial claims data no break out of the range wey e dey since 2022, but e dey push higher small small. The Producer Price Index (PPI), wey combine with yesterday's Consumer Price Index (CPI) wey dem release, go lead to good Personal Consumption Expenditures (PCE) number. Experts go drop estimates later today after dem put am for demma models.
Major Currency Pairs Dem Dey Move
- EURUSD: E reach new highs for the day, wey e be highest since 2021! Next target dey around 1.1683 – 1.16916. Buyers dey in control, so keep eye open!
- USDJPY: E fall below 100 and 200 bar Moving Averages for the 4-hour chart. Support dey around 143.57. Watch the area between 142.10 and 142.347 closely.
- GBPUSD: E trade to new high for the year, wey e be highest since February 2022. Next target dey against swing area from 2022 around 1.36445. Above that, traders go dey target 50% midpoint from 2014 high to 2022 low, wey e be 1.37683.
- USDCHF: E dey move towards low of swing level wey e start from April 2025. That swing area dey between 0.8097 and 0.81288. Low for 2025 dey at 0.80389, wey e be next key target.
So Ghana, keep your eyes on the forex market oo! Things dey change, and you for dey alert for these movements!