Strong NFP Causing Dollar to Remain Well-Bid | BDSwiss Weekly Market Outlook

-Hawkish Powell After a speech from Jerome Powell on a TV show, he pointed out that the FED might take time beyond their March meeting in order to potentially adjust rates lower. Currently inflation data would be in line with the 2% inflation target yet he stated that further confirmation would be needed for further moves. During his talk at CBS’ 60-minute show on Sunday, he also said that things would simply need more time to unfold. Meanwhile, the USD is gearing up steam again and starting to move in particular against the EUR. -Geopolitical Tensions According to statements from the Biden government in the US, further attacks against forces from Iran should be expected. Senior military staff stated that no extended conflict is being prepared whereas further retaliation will happen in the regional conflict. The oil price is currently diving below the 50-moving average based on the daily chart and could be on track down towards the early USD 70 zone. Also, the price of Gold seems more reactive to the stronger USD and is running lower. -Market Talk After the much stronger-than-expected NFP report from last week, the US Dollar is remaining stronger again. As the EURUSD currency pair had now broken below the psychological USD support zone, we might see the market running to lower levels. Equities remain in a sideways pattern and might wait for new data this week. On the other hand, we only expect some light data throughout the week without major figures being released. Should the crypto market remain positive after early losses this morning, we might see a fast breakout above the USD area. Check the UPCOMING WEBINARS here: • Download the BDSwiss iOS app: • Download the BDSwiss Android app: • Join our Telegram Channel: • Like us on Facebook: • Follow us on Twitter: • Follow us on LinkedIn: • Follow us on Instagram: • Subscribe to our Channel: Your capital is at risk. T&Cs apply.