Prior chart:
Nothing new from Fed chair Powell to augment FOMC minutes or fresh catalyst for a rebound in US Treasury yields amidst relatively mild re-steepening, but enough it seems for the Dollar to regain some composure as the week draws to a close.
Indeed, the index has rebounded from Thursday’s 91.995 low to probe above 92.300, with the ripples reaching all DXY components and spreading beyond to other Greenback counterparts as several psychological and key technical levels are being breached or rigorously tested.
However, the Buck still has a long way to go before getting back on track, and the nearest hurdles come in the form of 200 and 21 DMAs at 92.330 and 92.363, then recent highs and 92.500 before the index even considers staging an attempt to revisit Monday’s 93.000+ peak.
Turning to fundamentals, PPI data is due and could provide a guide for CPI next week.
Nothing new from Fed chair Powell to augment FOMC minutes or fresh catalyst for a rebound in US Treasury yields amidst relatively mild re-steepening, but enough it seems for the Dollar to regain some composure as the week draws to a close.
Indeed, the index has rebounded from Thursday’s 91.995 low to probe above 92.300, with the ripples reaching all DXY components and spreading beyond to other Greenback counterparts as several psychological and key technical levels are being breached or rigorously tested.
However, the Buck still has a long way to go before getting back on track, and the nearest hurdles come in the form of 200 and 21 DMAs at 92.330 and 92.363, then recent highs and 92.500 before the index even considers staging an attempt to revisit Monday’s 93.000+ peak.
Turning to fundamentals, PPI data is due and could provide a guide for CPI next week.