In the last year, the dollar bulls have shown an immense amount of strength in the global market and pushed the dollar higher against its all major rivals. The green bucks gained its first bullish momentum in the market during the U.S presidential election held on 8th November 2016.Mr. Trump surprised the whole world by becoming the new U.S president and he gave the dollar its first boost by stating that they are going to increase the fiscal spending in the very beginning of the next year. Most importantly he also stated that they are going to initiate tax cut policy to give a better standard of life to their citizen. Such an optimistic statement from the newly elected president create extreme positive consumer confident in the U.S consumers. The long anticipated rate hike decision was finally implemented by the FED in their last FOMC meeting minute as they hike their interest rate on the basis of 25 points. The green bucks became broadly stronger against its major rivals in the forex market. However, most of the investors are thinking that the dollar will lose its strength in the near future.
There has been a massive chaos in the global market from the very beginning of the year 2916.Most of the professional traders were cautiously waiting for the rate hike decision from the FED from the very beginning of the year 2016.The performance of the U.S economy was significantly good in the last two couple of months and this helped the FED to hike their interest rate in their last FOMC meeting minutes. The dollar started to gain its strength in the global market after the U.S presidential election which held on 8th November 2016.The dollar gained a significant amount of strength in the global market after U.S president Mr. Trump stated that the U.S government will increase the fiscal spending and they will also work with the current tax conditions of the U.S citizen. Read more
The dollar has been dominating the market after the prudential election on 8th November 2016.The ongoing economic performance and positive statement from the president of USA gave the dollar a strong bullish momentum in the market. However, on last Friday the dollar become broadly weaker against its all major rivals in the forex market upon the release of the major economic news. On last Friday the dollar closed at 1.0667 against its major rivals EURO in the forex market. The sharp decline of the U.S dollar has been triggered by the poor performance economic performance in the last week. According to the labor Department, there has been a sharp fall in the U.S wages in the month of November and the Non-farm payroll data came negative then the expectation. The forecasted job lot opening was 180k whereas the actual data came as 178 k which also turned the strength of the dollar in the global market.