Tag: Index Dollar

Inverted shoulder-head-shoulder pattern on the daily chart

Inverted shoulder-head-shoulder pattern on the daily chart

The DXY US Dollar Index, which measures the strength of the dollar against a basket of major currencies, has drawn an inverted shoulder-head-shoulder pattern on the daily chart. The resistance of the pattern is currently at 90.92. A close above this level would confirm the breakout or an uptrend reversal, creating room for a rally […]

Forex Today – Asian Session: Lousy US Data and Central Banks Shattered the USD

Forex Today – Asian Session: Lousy US Data and Central Banks Shattered the USD

What you need to know for Thursday, January 28: Risk aversion took hold of financial markets mid-London session after ECB Governing Council member Klass Knot made explicit comments on possible future central bank policies. According to him, the central bank could decide to lower its deposit rate even further below zero if that was necessary […]

Waiting for the Federal Reserve to break the monotony above 90.00

Waiting for the Federal Reserve to break the monotony above 90.00

The index rises slightly after its bounce off the two-week support line and the 21-day SMA. The 12-week resistance line and the 50-day SMA limit the immediate rally. RSI conditions suggest a continuation of the sideways movement. The DXY US Dollar Index slightly extends the recovery move above the 90.20 region at the start of […]

The dollar falls before the announcement of the Federal Reserve

The dollar falls before the announcement of the Federal Reserve

What you need to know for Wednesday, January 27: The market mood was bitter early in the day, but improved during the European session, to the detriment of the US dollar. The dollar was lower against most major rivals, despite investors being cautious during the US session. Wall Street posted a modest intraday advance, while […]

Revises the forecast for world economic growth for 2021 to 5.5% compared to 5.2% seen in October

Revises the forecast for world economic growth for 2021 to 5.5% compared to 5.2% seen in October

In its latest outlook report for the world economy, the International Monetary Fund (IMF) has revised up its forecast for 2021 global economic growth to 5.5% from 5.2% in the October release, as reported by Reuters. Key takeaways summarized by Reuters: “The IMF forecasts a global economic contraction in 2020 to 3.5% versus October forecast […]

A break below the 90.00 level exposes the 2021 lows at 89.20

A break below the 90.00 level exposes the 2021 lows at 89.20

The DXY index is moving within a narrow range near the 90.00 level. Below that region, is the annual low at 89.20. The DXY US Dollar Index is holding on to daily gains around the 90.30 region at the start of the American session on Monday. The inability of the bulls to propel the DXY […]

Chicago Fed National Activity Index improves from 0.31 to 0.52 in December

Chicago Fed National Activity Index improves from 0.31 to 0.52 in December

The Chicago Fed National Activity Index rose modestly in December. The US Dollar DXY Index is extending sideways within a daily range above 90.00. The Federal Reserve Bank of Chicago’s National Activity Index (CFNAI) rose from 0.31 (revised from 0.27) in November to 0.52 in December. “He CFNAI diffusion index, which is also a three-month […]

A break of 90.00 would expose the 2021 lows at 89.20

A break of 90.00 would expose the 2021 lows at 89.20

The DXY is volatilely trading above 90.00 so far on Friday. Below 90.00 the low of this year emerges at 89.20. The US Dollar Index (DXY) alternates between gains and losses, always above the key level of 90.00 for the time being. The inability to climb above the recent highs in the 91.00 region led […]

AUD / USD Extends Losses Toward 0.7700 As USD Bounce Accelerates

AUD / USD Extends Losses Toward 0.7700 As USD Bounce Accelerates

AUD / USD is moving lower amid a bounce in the US dollar fueled by risk-off sentiment. Weaker than expected Australian retail sales add to the downside. Markets await US Markit PMIs and Biden’s speech for new signals. He AUD/USD moves lower during the European session on Friday, falling below the 0.7720 region, as the […]

I will work with President Biden to fight currency manipulation

I will work with President Biden to fight currency manipulation

The new one US Secretary of the Treasury and former Fed Chair, Janet Yellen, has declared this Thursday that will work with President Joe Biden to fight against currency manipulation. Featured statements: “We will not alter the tariffs on China until allies are consulted“. “You need a ‘new focus’ for significant pressure on China. “ […]