Cleveland Fed Chair Loretta Mester said Tuesday that expect the US economy to be weak in the first months of 2021, as reported by Reuters. Additional comments: “If vaccines are implemented, it is expected a strong rebound in growth in the second half of 2021“. “I don’t expect to see any further substantial progress toward […]
Tag: Index Dollar
They raise the stakes for a bigger drop
The DXY manages to regain some composure after hitting lows in two years. In case of more losses, I would aim for the April 2018 low in the 89.20 / 25 band. The pessimism surrounding the dollar remains strong and solid in early 2021, although the US dollar DXY index managed to rebound from the […]
AUD / USD looks to test multi-year highs near 0.7740
AUD / USD extends gains above 0.7700 amid USD weakness. Optimism about vaccines and the second round of elections in Georgia offsets rising concerns about covid. A stronger yuan and higher S&P 500 futures support the Australian dollar. He AUD/USD It is gradually approaching the 2020 highs of 0.7743, with the pair’s bulls tightening their […]
US dollar DXY index remains under pressure near 89.70 ahead of data
The dollar extends Monday’s losses near 89.70. The focus is on American politics and voting in Georgia. ISM’s Manufacturing PMI stands out on the US economic calendar. He US dollar DXY index, which measures the strength of the dollar against a basket of the main currencies, maintains the negative tone unchanged during the first half […]
Next target stands at 89.22
The DXY is again under bearish pressure near 89.40. The next target on the downside is the April 2018 low near 89.20. The US Dollar Index (DXY) starts the new year on the downside and extends the decline to new lows, to the 89.40 region. The outlook for the dollar appears to be in bearish […]
US Dollar DXY Index Looks Weak Near 89.60
The dollar remains on the defensive below the 90.00 level. Investors remain skewed toward riskier assets in the new year. Markit’s final manufacturing PMI will be released during the American session. He US dollar DXY index, which measures the strength of the dollar against a basket of the main currencies, begins the year with a […]
The US Dollar Index remains near multi-year lows, below 90.00
The USD came under renewed selling pressure on Tuesday amid market optimism. Progress on additional US stimulus added to optimism and increased investor sentiment. Relatively weak liquidity conditions warrant some caution before placing further bearish bets on the USD. The US Dollar Index (DXY), which tracks the dollar against a basket of major currencies, witnessed […]
Dallas Fed Manufacturing Business Index declines from 12 to 9.7 in December
Economic activity in the manufacturing sector expanded at a smoother pace in December than in November with the General Business Activity Index of the Manufacturing Outlook Survey of the Dallas Fed falling to 9.7 from 12 points in November. Further details from the release revealed that the production index improved to 25.5 from 7.2, the […]
Bulls expect a sustained break above the 50 HMA for further rises
The EUR / USD flirts with daily highs near 1.2200. It will open further higher on a firm break above the 50 HMA. The hourly RSI remains bullish, allowing for more gains. The EUR / USD is fighting a powerful resistance located near the 1.2200 level, having found strong offers just above 1.2150. The rally […]
0.7560 is a tough nut to crack for bulls
AUD / USD remains somewhat lower near the 0.7550 zone. The hourly chart points to a possible rally. You build up quite a few healthy resistance levels. AUD / USD has stopped its selloff and looks set to extend the bounce into the next session, although a bunch of healthy barriers to the upside could […]