Eiii Ghana! The US Dollar dey struggle o. After di latest claims and PPI data come out, e dey fall like say dem pour water for am. This movement be big for the forex market, especially for currency pairs like EURUSD, USDJPY, GBPUSD, and USDCHF.
Wetin Dey Cause Di Dollar Fall?
Di main reasons be say di PPI (Producer Price Index) data weak, and di initial and continuing claims dey high. This one dey show say jobs market no dey strong like before, which dey surprise many people. If you look di continuing claims data, you go see say e dey break out upwards. E be serious matter!
Even though di initial claims data no break out of di range wey e dey since 2022, e dey push higher too. All dis one dey suggest say di US economy dey slow down small.
How E Dey Affect Major Currency Pairs?
- EURUSD: E reach new highs wey wey no see since 2021! Buyers dey control di market now. Di next target na 1.1683 – 1.16916.
- USDJPY: E fall below di 100 and 200 bar MA for di 4-hour chart. E dey go towards 143.57. Next support dey between 142.10 and 142.347.
- GBPUSD: E trade to new high for di year, wey wey no see since February 2022! Next target na 1.36445. If e pass dat one, traders go target 1.37683.
- USDCHF: E dey move towards di low of swing level wey wey no see since April 2025. That area dey between 0.8097 and 0.81288. Di low for 2025 (0.80389) be di next target.
As di dollar dey struggle, e good make traders dey watch these levels wella. Make una take una time and make sure say una dey informed before una make any moves. Forex market no be joke o!
Make We Talk About PCE Data!
Because di PPI and CPI data dey weak, people dey expect say di PCE (Personal Consumption Expenditures) number go be good. Dem go release di estimates later today, so make una stay tuned!
So, Ghana, keep eye for di market! Make sure say you do your research well before you invest. Dis forex market, e be like sea, e get tides wey dey change fast fast. Stay sharp!