The US dollar (USD) remains a little firmer in the midst of geopolitical climbing between Israel and Iran. The DXY was for the last time at levels of 97.93, the FX analysts of OCBC Frances Cheung and Christopher Wong point out.
Geopolitical risks can keep the feeling of risk fragile
“This morning, Bloomberg headlines indicated that Iran’s new attack to Israel was ‘more devastating’ than before. While the USD bounced last Friday, the limited price action suggests that it has not yet complete High beta currencies such as Aud and NZD can operate down if tensions continue to increase. ”
“That said, the descaled would probably weigh on the dollar and return the support to the risk proxies. This week’s approach is in the FOMC (Thursday 2am SGT). The status quo is probable, but all the eyes are in the points graph and the press conference. The markets wait for 2 cuts by the end of the year. If the Fed indicates only one clip cuts) or rejects the expectations of flexibility, then the USD could receive another impulse, but anything less aggressive/more moderate could trigger sales of USD. ”
“The daily impulse has a slight bassist inclination while the RSI shows signs of increase from conditions close to the overall. Resistance in 99.20 (SMA of 21 days), levels of 99.70 (50 days SMA). Support in 97.60 (minimum recent). Today will bring manufacturing data of the empire.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
