{"id":32183,"date":"2022-07-19T18:11:00","date_gmt":"2022-07-19T17:11:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=32183"},"modified":"2022-07-20T23:19:00","modified_gmt":"2022-07-20T22:19:00","slug":"market-wrap-us-dollar-hammered","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-us-dollar-hammered\/","title":{"rendered":"Market Wrap &#8211; US dollar hammered"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"32183\" class=\"elementor elementor-32183\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-aad5cb6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"aad5cb6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9b885d5\" data-id=\"9b885d5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5108a4c elementor-widget elementor-widget-text-editor\" data-id=\"5108a4c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>A Reuters report that the European Central Bank (ECB) was weighing a 50-basis points rate hike at its Thursday meeting caused a big rally in the euro during the US session.<\/p><p>Due to the bigger than the 25 basis points hike many traders and investors has been expected it helped put the single currency on track for its biggest one-day percentage gain in nearly two months.<\/p><p>With this in mind the <a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EURUSD<\/a> pair is trading nearly 250 pips away from parity around the 1.0250 level. The bear party below parity has been delayed for now.<\/p><p>Easing expectations that the U.S. Federal Reserve would implement a 100 basis points hike at its meeting next week has caused the U.S. dollar to decline.<\/p><p>In fact, the <a href=\"https:\/\/bit.ly\/3tzpfOh\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a> is now on track for its third straight session of declines after touching a two-decade high earlier this month.<\/p><p>During the New York session a number of US stocks on <a href=\"https:\/\/bit.ly\/3tCIuXl\" target=\"_blank\" rel=\"noopener\">Wall Street<\/a> advanced in broad rally. This happened alongside European stocks.<\/p><p>The STOXX 600 index rose 1.47% and MSCI&#8217;s gauge of stocks across the globe gained 1.56%. The <a href=\"https:\/\/bit.ly\/3aXPCqN\" target=\"_blank\" rel=\"noopener\">FTSE100<\/a> and the <a href=\"https:\/\/bit.ly\/3QxTSgP\" target=\"_blank\" rel=\"noopener\">German DAX<\/a> also gained strongly.<\/p><p>In terms of market moving data, US Housing Starts data and came in weaker than expected. Housing Starts came in at 1.559 million versus 1.580 million.<\/p><p>Housing Permits data came in at 1.685 million versus the 1.650 million expected. It should be noted that a drop did come from the previous months 1.695 million.<\/p><p>Last week Fed member Waller highlighted retail sales and this week&#8217;s housing data as potential reasons to shift to 100 bps if they were &#8216;materially&#8217; stronger than expected.<\/p><p>Despite the move lower in the US dollar, <a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\" rel=\"noopener\">gold<\/a> prices remained depressed. However, cryptos started to surge higher today with Bitcoin moving above its 200-week moving average.<\/p><p><a href=\"https:\/\/bit.ly\/3aVuhyz\" target=\"_blank\" rel=\"noopener\">Energy prices<\/a> are also moving higher today ahead of the big OPEC meeting, which is scheduled for August 3<sup>rd<\/sup>.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>A Reuters report that the European Central Bank (ECB) was weighing a 50-basis points rate hike at its Thursday meeting caused a big rally in the euro during the US session. Due to the bigger than the 25 basis points hike many traders and investors has been expected it helped put the single currency on [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":32185,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[176,54,95,28,692,601,307],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Wrap - US dollar hammered - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-us-dollar-hammered\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - US dollar hammered Market Wrap - US dollar hammered\" \/>\n<meta property=\"og:description\" content=\"A Reuters report that the European Central Bank (ECB) was weighing a 50-basis points rate hike at its Thursday meeting caused a big rally in the euro during the US session.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-us-dollar-hammered\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-19T17:11:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-20T22:19:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/07\/GettyImages-1391887455-scaled.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"971\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - US dollar hammered Market Wrap - US dollar hammered\" \/>\n<meta name=\"twitter:description\" content=\"A Reuters report that the European Central Bank (ECB) was weighing a 50-basis points rate hike at its Thursday meeting caused a big rally in the euro during the US session.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-us-dollar-hammered\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-us-dollar-hammered\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Wrap &#8211; 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