{"id":62668,"date":"2023-05-22T10:25:45","date_gmt":"2023-05-22T07:25:45","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=62668"},"modified":"2024-07-01T11:09:46","modified_gmt":"2024-07-01T08:09:46","slug":"usd-slipped-ahead-of-us-debt-ceiling-negotiations","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/id\/usd-slipped-ahead-of-us-debt-ceiling-negotiations\/","title":{"rendered":"USD slipped ahead of US debt ceiling negotiations"},"content":{"rendered":"<p>The USD tended to drop against its counterparts on Friday, while showed some signs of stabilisation during today\u2019s Asian session. Market attention is expected to fall later today, on the restart of the negotiations between Republicans and the White House about the rise of the US debt ceiling and an avoidance of the US defaulting on its debt, while US Treasury Secretary Yellen seems to warn that the US may fall short of funds by June 15, raising market worries further. On the monetary front, we note that we got some conflicting messages, yet Fed Chairman Powell\u2019s comment that rates may not have to be raised as high as expected, may have prevailed easing market worries in the \u201cpause\u201d-\u201dno pause\u201d pendulum.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"USD slips ahead of US debt ceiling negotiations\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/tVGiWX2zy8k?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Across the Atlantic, we note that ECB President Lagarde doubled down on the bank\u2019s hawkish intentions, as she was reported stating that the bank will do what is necessary to achieve price stability with no trade-offs. Overall should the bank\u2019s hawkishness be maintained in ECB policymakers\u2019 statements later today, we may see the EUR getting some support. EUR\/USD edged higher on Friday yet remained well below the 1.0855 (R1) resistance line. Nevertheless, we tend to maintain our bearish outlook as the price action, despite edging higher failed to even threaten the downward trendline guiding the pair since the 4<sup>th<\/sup> of May, hence we tend to maintain our bearish outlook intact. Should the bears actually maintain control over the pair we may see it dropping and breaking and the next target for the bears may be the 1.0695 (S1) support line. Should the bulls take over, we may see the pair rising breaking the prementioned downward trendline, in a first sign that the downward motion has been interrupted, break also the 1.0855 (R1) resistance line and aim for the 1.1000 (R2) resistance level.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Fundamentally, we maintain our worries as tensions in the US-Sino relationships seem to be flaring up once again, over microchips this time and may weigh on AUD. AUD\/USD took another swing on the 0.6640 (S1) support line during today\u2019s Asian session. The picture of a sideways motion seems to be maintained for now and the fact that the RSI indicator is currently running along the reading of 50 tends to support such a notion as it implies a rather indecisive market. Should a selling interest be expressed by the market we may see the pair breaking the 0.6640 (S1) support line and aim for the 0.6575 (S2) support level. Should the bulls take over we may see the pair reversing course and aiming if not breaking the 0.6700 (R1) line. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>On an easy-going Monday, we note the release of Eurozone preliminary consumer confidence for May and on the monetary front we note that ECB Vice President De Guindos, Richmond Fed President Barkin, ECB Chief Strategist Lane and San Francisco Fed President Daly are scheduled to speak. During tomorrow\u2019s Asian session, we note the preliminary PMI figures of Australia and Japan for May.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week:<\/strong><\/h2>\n\n\n\n<p>On Tuesday, we get the preliminary PMI figures for Australia, Japan, Germany, France, the Eurozone, the UK and the US for May. On Wednesday, we note New Zealand\u2019s retail sales for Q1, UK\u2019s CPI rates for April and Germany\u2019s IFO figures for May, yet on the monetary front we note the release of New Zealand\u2019s RBNZ interest rate decision and the release of the Fed\u2019s May meeting minutes. On a crucial Thursday, we get Germany\u2019s Gfk Consumer sentiment for June, France\u2019s Business manufacturing climate for May, Canada\u2019s business barometer figure for May and we highlight the US GDP 2nd estimate rate for Q1, while on the monetary front, we note from Turkey CBRT\u2019s interest rate decision. Lastly, on Friday, we note Japan\u2019s Tokyo\u2019s CPI rates for May, followed by Australia\u2019s final retail sales rate for April and later on UK\u2019s retail sales for the same month and we highlight the US final University of Michigan consumer sentiment figure for May. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-h4-chart\"><strong>EUR\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/05\/image-103.png\" alt=\"support at one point zero six nine five and resistance at one point zero eight five five, direction downwards \" class=\"wp-image-62669\" title=\"eur-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0695 (S1), 1.0525 (S2), 1.0370 (S3)<\/p>\n\n\n\n<p>Resistance: 1.0855 (R1), 1.1000 (R2), 1.1140 (R3)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-h4-chart\"><strong>AUD\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/05\/image-104.png\" alt=\"support at zero point six six four and resistance at zero point six seven, direction sideways \" class=\"wp-image-62670\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6640 (S1), 0.6575 (S2), 0.6490 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6700 (R1), 0.6790 (R2), 0.6865 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2000\" height=\"493\" src=\"\/wp-content\/uploads\/2023\/05\/image-105.png\" alt=\"\" class=\"wp-image-62671\" title=\"benchmark-22-05-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1043\" height=\"610\" src=\"\/wp-content\/uploads\/2023\/05\/image-107.png\" alt=\"\" class=\"wp-image-62673\" title=\"table-22-05-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1737\" height=\"956\" src=\"\/wp-content\/uploads\/2023\/05\/image-106.png\" alt=\"\" class=\"wp-image-62672\" title=\"morning-releases-22-05-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>The USD tended to drop against its counterparts on Friday, while showed some signs of stabilisation during today\u2019s Asian session.<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-62668","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>USD slipped ahead of US debt ceiling negotiations<\/title>\n<meta name=\"description\" content=\"This report is about to discuss recent issues in the financial markets as well as comment on possible further possible developments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/id\/wp-json\/wp\/v2\/posts\/62668\/\" \/>\n<meta property=\"og:locale\" content=\"id_ID\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USD slipped ahead of US debt ceiling negotiations\" \/>\n<meta property=\"og:description\" content=\"This report is about to discuss recent issues in the financial markets as well as comment on possible further possible developments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/id\/usd-slipped-ahead-of-us-debt-ceiling-negotiations\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-22T07:25:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-01T08:09:46+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/usd-slipped-ahead-of-us-debt-ceiling-negotiations\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/usd-slipped-ahead-of-us-debt-ceiling-negotiations\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"USD slipped ahead of US debt ceiling negotiations\",\"datePublished\":\"2023-05-22T07:25:45+00:00\",\"dateModified\":\"2024-07-01T08:09:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/usd-slipped-ahead-of-us-debt-ceiling-negotiations\\\/\"},\"wordCount\":796,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"id\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/usd-slipped-ahead-of-us-debt-ceiling-negotiations\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/usd-slipped-ahead-of-us-debt-ceiling-negotiations\\\/\",\"name\":\"USD slipped ahead of US debt ceiling negotiations\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/#website\"},\"datePublished\":\"2023-05-22T07:25:45+00:00\",\"dateModified\":\"2024-07-01T08:09:46+00:00\",\"description\":\"This report is about to discuss recent issues in the financial markets as well as comment on possible further possible developments.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/usd-slipped-ahead-of-us-debt-ceiling-negotiations\\\/#breadcrumb\"},\"inLanguage\":\"id\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/usd-slipped-ahead-of-us-debt-ceiling-negotiations\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/usd-slipped-ahead-of-us-debt-ceiling-negotiations\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"USD slipped ahead of US debt ceiling negotiations\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/id\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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