The DXY index regains traction above 92.00 after Tuesday’s pullback. US yields are recovering from recent lows and are targeting 1.60%. The inflation figures measured by the CPI will be the most prominent event of the day. The US dollar DXY index, which measures the strength of the dollar against a basket of major currencies, […]
Tag: Index Dollar
Forex Today – Asian Session: Dollar Gives, But Bulls Persist
What you need to know on Wednesday, March 10: The dollar gave up some ground amid easing of US government bond yields. The yield on the benchmark 10-year Treasury closed around 1.54% after hitting 1.62%. A tight macroeconomic calendar exacerbated yield-related trading. Global stocks advanced, overshadowing demand for the US currency. The Nasdaq was the […]
Decent support emerges around 92.00
DXY corrects from recent yearly highs around 92.50. So far the 92.00 zone offers decent containment. After rising to new yearly highs in the mid-92.50, the DXY triggered a downward movement to the 92.00 / 91.90 area. A continuation of the uptrend appears likely despite the ongoing correction, which also appears justified by the recent […]
The 1.3920 level is a tough nut to crack for the bulls
GBP / USD briefly recovers to the 1.3900 region, but further rally appears limited. A powerful resistance awaits at 1.3920 as the RSI remains bullish. GBP / USD bounces as the US dollar falls along with Treasury yields. GBP / USD fails to find acceptance above the round 1.3900 level and is backing slightly, although […]
US Dollar DXY Index Under Pressure Retesting 92.00 Region
The DXY index retreats from annual highs and returns to the 92.00 region. Lower US yields weigh on the USD and drag the DXY index lower. The NFIB index and the API report stand out on the US economic calendar. The bullish momentum of the dollar seems somewhat depressed and drag the US dollar index […]
Aiming for a minor pullback after four straight days up
The 1 hour chart of the DXY index shows a bearish RSI pattern. A small drop to the support of the 50 hourly SMA can be expected. The US dollar DXY index, which measures the strength of the dollar against a basket of major currencies, is declining from the daily high of 92.50. The pullback […]
Pelosi Says Senate’s $ 1.9 Trillion Covid Relief Bill Will Be Accepted Wednesday
The United States House of Representatives will pass the $ 1.9 trillion coronavirus relief bill on WednesdayHouse Speaker Nancy Pelosi said on Capitol Hill early Tuesday. US President Joe Biden’s massive stimulus package was approved by the Senate after a marathon vote overnight on Saturday. Key Comments: The moment of the vote in the House […]
Forex Today – Asian Session: The Dollar Continues To Rebound With Rising Yields
What you need to know on Tuesday, March 9: The dollar appreciated against most of its main rivals as US Treasury yields resumed their gains and flirted with their recent highs before the opening of Wall Street. Investors are optimistic after the weekend news related to the passage of the bill by the American Joe […]
Resources provided by the covid bill will help drive a strong recovery
During an interview with MSNBC on Monday, the United States Secretary of the Treasury, Janet Yellen, said the resources provided by the coronavirus relief bill will help drive a strong economic recovery in the United States, according to Reuters. Featured statements: “It is is the package we need to reactivate our economy to where it […]
The next bullish target emerges at 92.46
A continuation of the uptrend seems likely in the short term. That said, there is a minor hurdle at 92.46, where a Fibonacci level from the 2020-2021 dip lies. Higher up is the 200-day SMA at 92.91. A break above the latter should change the outlook to a more constructive one and allow further gains […]
