Search
Close this search box.

US Dollar Reaches Multi-Month High Amidst Global Monetary Policy Decisions

The United States dollar (USD) is the official currency of the United States, governed by the Federal Reserve and the U.S. Department of the Treasury. Originating from the Coinage Act of 1792, it serves as a standard unit of value and medium of exchange, both domestically and globally. The dollar is widely held as a reserve currency by other nations and is commonly used in international trade, notably in the pricing of commodities like oil. It comes in various denominations, both in coin and paper form, and is subdivided into 100 cents. Its role as the world's dominant reserve currency grants the U.S. economic advantages but also draws criticisms regarding its influence over global financial systems.

The world’s financial epicenters are experiencing a flurry of activities, largely catalyzed by the Federal Reserve’s recent decisions. As institutional and individual traders gear up for more data points, including the US weekly Jobless Claims and the preliminary US S&P Global PMI, the financial landscape remains both challenging and exciting.

EUR/USD Downtrend Continues Amid First Bank Takeover, ECB and Fed Rate Hikes

EURUSD Currency Pair Bearish RichDadph

EUR/USD remains under pressure as ECB hawks retreat amid downbeat EU data and First Republic roils the mood. Additionally, the market is waiting for the Fed and ECB announcements this week. Given the current trend, a sell signal is suggested with an entry price of 1.1000, a stop loss at 1.1080, and a take profit at 1.0850. A risk to reward ratio of 1:2 is recommended. Traders should closely monitor the market events and adjust their positions accordingly.