DXY rises to fresh highs near 110.30 on Monday. A technical correction should not be ruled out. The US Dollar Index (DXY) extends the rise to the 110.30 zone, where it seems to have found some initial resistance. The short-term bullish view on the dollar holds for now and is underpinned by the 7-month support […]
Tag: DollarIndex
Dollar Index Finds New Offers Following Mixed NFP Report
The US dollar is under pressure and scrutiny following the mixed US NFP report. The bears are looking at the weekly chart for clues as to where the dollar might be correcting. The U.S. dollar, measured against a basket of major currencies in the DXY index, faltered after the release of the US Department of […]
EUR/USD to drop to 0.97, yen to weaken to 142.00 and pound to 1.14 – ANZ
EUR/USD is below parity and USD/JPY is above 140.00. The ANZ Bank economists expect EUR/USD and USD/JPY to move towards 0.97 and 142.00respectively. DXY will hit 112.00 in early 2023 “Our new global forecasts see the euro slip below parity to 0.97, the yen weaken to 142.00 and the lpound sterling up to 1.14. These […]
US Dollar Index Price Analysis: Rise above 105.60 likely
DXY extends the upside and rises to 3-day highs near 109.20. Additional gains remain above the 105.60 region. The US Dollar Index (DXY) reverses Wednesday’s decline and resumes buying interest above 109.00 on Thursday. Prospects for a further bounce look solid as long as it is above the 7-month support line today around 105.60. On […]
DXY Price Analysis: Next upside target at 2022 peak
DXY extends Tuesday’s gains and recovers the area above 109.00. Immediately on the upside is the cycle high at 109.47 (Aug 29). The US Dollar Index trades firmer and extends the rebound past the 109.00 barrier on Wednesday. The index appears to have entered a consolidation phase, with the lower bound at recent lows near […]
EUR/USD and GBP/USD will reach 0.96 and 1.12 by the end of the year – UBS
The Dollar Index (DXY) hit a new 20-year high last week. Although it has since receded slightly, the index’s recovery so far this year is still above 13%. In the opinion of UBS economists, the dollar is likely to continue rising in the short term. The dollar should reach its maximum in the next six […]
DXY Price Analysis: Immediately on the upside comes 109.77
DXY makes new cycle highs near 109.50 on Monday. If it continues to rise, it could revisit the September 2002 high at 109.77. The US Dollar Index (DXY) extends the rally after Powell’s exposure in Jackson Hole to the 109.50 area, while recording new cycle highs. In the short term, the index could continue to […]
Dollar Index looks firmer and hits new 2022 highs near 109.50
The index continues Friday’s advance north of 109.00. US 2-year bond yields rose to new 5-year highs near 3.50%. The dollar, in terms of the Dollar Index (DXY), continues to rise and hit new two-decade highs near 109.50 earlier in the week, an area where it last traded in September 2002. US Dollar Index is […]
The Fed will throw the US economy into a recession – Senator Elizabeth Warren
The Democratic US Senator Elizabeth Warrenhas expressed concern on Sunday about a possible recession in the US economy, criticizing the aggressive stance of Fed Chairman Jerome Powell. Featured Statements “You know what’s worse than high prices and a strong economy? It’s high prices and millions of people out of work. I am very concerned that […]
AUD/USD volatile, but likely to fall further while below 0.7000
AUD/USD tumbled in the middle of Powell’s speech. The hourly harmonic pattern is bearish and the focus is on the downside while below 0.7000. Jerome Powell’s aggressive speech has sent a bid to the US dollar and rattled financial markets with stocks down and bond yields higher. Given its high beta status, the Aussie fell […]