We have seen a big growth on dollar index for the last few weeks. In Weekly time frame, there is a downtrend which is in the correction phase. Price has approached to the supply zone and has retraced more than 50% of the downside move. There is also a negative hidden divergence between MACD and price peaks. In Daily chart, price has approached to the two...
A typical mundane Monday for the Dollar and frustrating for both bulls and bears that might have been looking for more given that month end looms and Wednesday. Indeed, buyers were squeezed only a fraction short of 93.000 in DXY terms, but sellers did not get much mileage either as the index found a base at 91.71 and the Dollar attempted to break out of ranges in...
PMI beats have helped the Euro retain hold of the 1.1800 handle against the Buck. Possible movements down into 1.17090 are now likely,. The Dollar remains upwardly mobile amidst deteriorating risk sentiment on latest waves of the coronavirus that are forcing many countries to roll-back reopening plans and some to re-enter lockdown or tighten restrictions. However,...
The currency markets are relatively sedate and orderly as evidenced by the index hugging a tight line either side of 92.000 amidst relative calm in bond land after recent antics and last Thursday’s particularly aggressive bear-steepening that propelled benchmark yields to and through psychological levels. Indeed, the DXY is meandering between 92.155-91.872 and...
DXY H4 Initially responded to that previous resistance we witnessed throughout the end of last week and throughout this week. Interested to see whether we break ready for next weeks trading, or whether we hold as resistance and see another range sequence.
The FOMC’s SEP dot plots did not leave a lasting affect on the Greenback or provide sustained relief for US Treasuries as the global debt sell-off resumed and intensified to the extent that even the short end of the curves retreated sharply. Accordingly, initial post-Fed losses on dovish takeaways were erased and almost reversed in certain cases as the index...
The Dollar has been meandering for the most part against G10 peers, though mainly elevated and grinding higher with some outside assistance from a downturn in oil prices. However, upside progress has been hampered by a less supportive yield backdrop as US Treasuries recoup some of Friday’s heavy losses and the curve re-flattens ahead of the Fed on Wednesday....
USD It looks like the Dollar may fall short of completing a full round trip from lows to highs, and in DXY terms 92.000 could be a step too far within the 92.506-91.364 range, but a reversion to bear-steepening in USTs has helped the Buck arrest a slide that picked up pace after benign CPI data on Wednesday. Moreover, most major rivals have reversed from best...
Good afternoon traders, today we bring you our analysis on the U.S Dollar Index, since we consider that it is making an important movement, and it has been on an interesting behavior the last week. 🔸As we know, the USD has been gaining strong, and that was reflected in many pairs. 🔸If we look at the chart, the price faced a huge demand zone, where every time it...
Following the chart on the one day, i thought it would be interesting to post the weekly chart. Please note, this idea is shared for educational and discussion purposes only and should not result in speculative investment decisions in any asset class.
The Dollar index is something I've been grappling with for a while now. I bought into the narrative of a weaker dollar index particularly in light of the mass printing of money by the FED. Surely inflation must be a consequence of the monetary policies that we are seeing...? It just makes so much sense that we see a cheaper Dollar. But the macro people disagree...
What a Monday. Only a relatively short-lived and shallow pull-back in DXY terms before the Buck bounced across the board to extend gains and the index probed beyond last Friday’s post-NFP peak within a 91.840-92.303 range. Technical analysts are now looking at Fib resistance around 92.450 – 23.6% retracement of the move from 102.97 to 89.20 - ahead of the next...
EXPECTATIONS: Nonfarm payrolls (exp. 182k, prev. 49k); Private Payrolls (exp. 210k, prev. 6k); Manufacturing Payrolls (exp. 18k, prev. -10k); Government Payrolls (prev. 43k); Unemployment Rate (exp. 6.3%, prev. 6.3%); Average Hourly Earnings M/M (exp. +0.2%, prev. 0.2%); Average Hourly Earnings Y/Y (exp. 5.3%, prev. 5.4%); Average Workweek Hours (exp. 34.9hrs,...
Almost a classic game of two halves for the Greenback, and challenging from a chart point of view as early momentum pushed the Buck beyond key technical and/or psychological levels that looked likely to usher more upside for the Dollar against its peers and the index in tandem. However, this did not materialise and the tide has turned to the benefit of others to...
The Euro has lost 1.2050+ status vs the Dollar after testing 1.2100, but failing to breach the psychological level or derive much traction from broadly better than expected Eurozone manufacturing PMIs and firmer German state CPIs. Perhaps the EUR/USD is conscious about more dovish guidance from the ECB pre-comments via several GC members including President...
The dollar softened in Asia trade, and that continued into the European hours ahead of testimony from Fed Chair Powell; but the buck regained poise, moving into positive territory; Powell didn't push back against higher yields, perhaps due to these higher yields coming hand-in-hand with brighter prospects for H2 2021 (though that still doesn't explain why the Fed...