The recent sell-off in the US dollar can be clearly seen in a born-again EUR/USD which continues to probe higher. Sterner tests for bulls lie ahead.

The broader measure of the US Dollar – the DXY Index – dropped its lowest level since early June this past week. The reversal seems productive with the 2022 run up providing plenty of premium to burn, but the fundamental backing to this move is less reliable than bears may appreciate.

Stocks put in a strong bullish response after CPI data and the S&P 500 is threatening breakout from the 2022 bearish trendline that held the highs for most of last year.

Gold put in a massive move of strength this week, but Silver is struggling with the same spot of resistance that’s held the highs for a month now.

The British Pound pushed higher against the US Dollar this past week as softening US inflation data boosted less hawkish Federal Reserve policy bets. GBP/USD turns to UK CPI next.

The Australian Dollar jumped higher on renewed optimism around China’s re-opening and the US Dollar taking a pounding the market discounts the Fed’s words. Will AUD/USD go higher?

Major US bank earnings prove largely resilient, but warnings of possible credit pressures send the S&P 500 lower on Friday as banks bolster cash reserves

The Euro’s 6-week winning streak came to an end. But, disappointing US hourly earnings and ISM services data sets a sour tone for key CPI data next. EUR/USD may rise.

Sterling remains vulnerable as companies issue trading warning for 2023. Trade unions continue with strikes and government plans to cut energy relief for corporates

The US Dollar posed a bullish breakout from the three-week range but aggressively snapped back after a disappointing PMI release, highlighting growing impact from the Fed’s rate hike strategy.