Bearish Yields Can Send US Dollar Lower

2024.08.13 07:44

are falling impulsively after the NFP (US jobs data) disappointment, which brought recession fears again, but at the same time, there’s now more pressure on the FED to start cutting rates. They now even thinking about an emergency rate cut, because the next FED meeting in September is still far away.

So, US yields could easily stay under bearish pressure within wave C of an A-B-C decline as expected and there can be space even down to the former wave 4 area at 3.25%.

If we consider a positive correlation with – DXY, then more weakness can be seen for the . Is DXY trying to break a bearish triangle?

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