DXY remains bearish tone unchanged on Tuesday. Powell will testify before the Senate later in the session. The Manufacturing ISM is estimated at 58 in November (from 59.3). The US Dollar Index (DXY), which measures the dollar against a group of its main rivals, leaves Monday’s advance behind and refocuses on the downside. US Dollar […]
Tag: Index Dollar
More casualties target 90.00
The DXY revolves around the eight-month support line near 91.70. The index registered new lows for this year in the 91.50 zone on Monday. The bearish momentum surrounding the dollar remains unchanged and led the US dollar index (DXY) to hold in the 91.70 region so far, where the eight-month support line is located. Against […]
US dollar DXY index remains under pressure around 91.70 ahead of Powell and US data.
The DXY index remains under pressure well below the 92.00 level. The appetite for risk prevails among market participants. Powell’s testimony and ISM manufacturing PMI data stand out on today’s economic calendar. The US dollar DXY index, which measures the strength of the dollar against a basket of major currencies, remains under pressure below the […]
The Fed extends four emergency liquidity programs through March 31, 2021
The US Federal Reserve announced on Monday that it has extended liquidity facilities for commercial paper, money markets, primary traders, and paycheck protection program until March 31, 2021. The Fed noted that these programs are independent of the credit facilities that the US Treasury recently ordered to close on December 31. “Liquidity facilities continue to […]
US Dollar Index DXY Price Analysis: Additional Losses Expected
The DXY index breaks below the 8-month support line. The dollar hits new lows in 2020 around 91.55. The downside momentum in the DXY index has recently accelerated following the breakout of a Fibonacci level at the 91.90 region and the 8-month support line near 91.80. Therefore, the continuation of the downtrend is a clear […]
US dollar DXY index falls to new 2020 lows near 91.60
The DXY index extends the downtrend below the 92.00 level. Risk appetite sentiment continues to weigh on the dollar. Chicago PMI and pending home sales data stand out on today’s economic calendar. The US dollar DXY index, which measures the strength of the dollar against a basket of major currencies, remains under pressure and moves […]
AUD / USD retraces from multi-month highs and dips below 0.7400 amid cautious optimism
AUD / USD is moving lower along with S&P 500 futures. The DXY index halts the decline early in the European session, awaiting further momentum. Possible end-of-month repositioning in the Aussie ahead of the RBA. The pair AUD/USD extends the pullback from the highest levels since September, reached at 0.7408 during the Asian session on […]
Bearish bias remains intact as long as it remains below the 21-hour SMA
The path of least resistance for USD / JPY looks to the downside. A possible death crossover on the 1 hour chart indicates the risk of further falls. A small bounce to the 21-hour SMA cannot be ruled out, as the RSI recovers. The USD / JPY pair remains just below the 104.00 level at […]
New York Fed GDP falls to 2.76% for the fourth quarter after this week’s data
The US economy is expected to expand 2.76% in the fourth quarter, the latest Report showed on Friday Nowcasting from the Federal Reserve Bank of New York. “The news from this week’s data releases lowered the immediate forecast for 2020: Fourth Quarter by 0.1%,” the post reads. “A negative surprise from the manufacturer’s shipping data […]
With room for a drop to 91.74 in the short term
The DXY continues to flirt with the 8.0 month support line around 92.00. Immediately to the downside, the lows of this year appear at 91.74. The US Dollar Index (DXY) remains unable to regain ground and remains well on the defensive around 92.00. The outlook for the index remains negative and is on the horizon […]