USD is smiling but for how long? | Technical Analysis
Updated
Published today June data from the US construction sector was ambiguous. The number of building permits issued fell from 1.683 to 1.598 million instead of the expected increase of 1.700 million, but the number of new homes starts grew more than the market expected, from 1.546 to 1.643 million. The strengthening of the dollar is constrained by the worsening epidemiological situation in the USA due to the spread of the Delta strain. According to the Centers for Disease Control and Prevention (CDC), over the past week, the average daily increase in patients with coronavirus in the country amounted to 26K people, which is twice more than in June. Some companies are already taking action to contain the business impact of the new outbreak.
Note
Moving as expected.
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