DXY-SVB Collapse: Resilience Strategies
important news: Despite signs of inflation picking up in the US, the recent collapse of SVB has been cited as one of the main reasons for the drop in the DXY, which traders had been waiting to see bullish; however, there are hopes that the Federal Reserve's plans to strengthen the currency's value may help it recover.
Fundamental Analysis
I would like to analyze the rates you provided, which suggest signs of potential GDP growth, and their impact on the US dollar. The initial jobless claims rate of 211K and the job claims rate of 0.8% are positive indicators that the labor market is stable and could drive economic growth. Additionally, the improvement in the PMI rate to 47.7 and the increase in consumer confidence rate to 67.00 are both encouraging signs for the economy. The housing start m/m rate of -1.4% suggests a slowdown in the housing market, which is a significant contributor to GDP. However, overall, these rates provide a mixed picture of the economy, |
Technical Analysis:
price started to retracement on 104 if price consolidate the above of 104 that I believe it can reach to HH and then 107, if the price lose the support that I believe it will reach to 102 but I'm still bullish on DXY, if Feds change their monitary policy DXY should start to fall but this has a low change
Fundamental Analysis
I would like to analyze the rates you provided, which suggest signs of potential GDP growth, and their impact on the US dollar. The initial jobless claims rate of 211K and the job claims rate of 0.8% are positive indicators that the labor market is stable and could drive economic growth. Additionally, the improvement in the PMI rate to 47.7 and the increase in consumer confidence rate to 67.00 are both encouraging signs for the economy. The housing start m/m rate of -1.4% suggests a slowdown in the housing market, which is a significant contributor to GDP. However, overall, these rates provide a mixed picture of the economy, |
Technical Analysis:
price started to retracement on 104 if price consolidate the above of 104 that I believe it can reach to HH and then 107, if the price lose the support that I believe it will reach to 102 but I'm still bullish on DXY, if Feds change their monitary policy DXY should start to fall but this has a low change
Comment:
I'll update the DXY chart after Feds conference, maybe they have to cut or delay for rise interest rates in next months
