DXY is under pressure after hitting new cycle highs. Further rally could lead to a test of the revised 100.00 level in the short term. The US Dollar Index (DXY) is under some corrective pressure to the downside after hitting fresh cyclical highs around 99.75 on Wednesday. The DXY rally remains good and solid despite […]
Tag: Majors
US dollar index DXY remains firm and targets the 100.00 level ahead of FOMC minutes
The DXY index extends the move higher and makes new highs around 99.75. US yields accelerate higher after Brainard’s comments on Tuesday. MBA mortgage applications, Harker’s speech and FOMC minutes stand out on today’s economic calendar. The US dollar index DXYwhich measures the strength of the dollar against a basket of major currencies, extends the […]
Dollar rally continues on rising yields, focus on FOMC minutes
This is what you need to know to trade today Wednesday April 6: Buoyed by aggressive comments from the Fed and upbeat data releases, the US dollar index DXY has advanced to its highest level in almost two years first thing on Wednesday. The FOMC will release the minutes of its March monetary policy meeting […]
EUR/USD aims to retest 1.0855 – UOB
According to UOB Group currency strategists Quek Ser Leang and Peter Chia, Outlook for EUR/USD remains negative and the pair could return to the 1.0855 region In the next weeks. Featured Comments 24 hour view: “Yesterday we highlighted that EUR/USD ‘could drop below 1.0940, but a sustained break below this level seems unlikely’. And added […]
GBP/USD falls back below 1.31, eyeing recent lows of 1.3050
Geopolitical angst and the Fed’s hawkish tone saw the GBP/USD slide back from early highs to below 1.3100 on Tuesday. The pound continues to fail in its attempts to break above its 21 DMA and continues to threaten a test of recent lows at 1.3050. The GBP/USD fell back below the 1.3100 level on Tuesday […]
USD/JPY bounces back above 123.00
USD/JPY fell 30 pips on BoJ’s Kuroda yen comments. A bearish market mood lifts the dollar’s outlook and the yen is under pressure. Fed speech lifts US yields and the US dollar. USD/JPY Price Forecast: Bullish bias, but could be subject to a mean reversion move, with RSI overbought. The USD/JPY advances for the third […]
EUR/USD falls to three-week lows near 1.0920 as US dollar strengthens
US dollar gains momentum as US yields soar. EUR/USD extends weekly losses after breaking 1.0950 support area. A test of 1.0900 (March 14 low) seems likely. The EUR/USD It broke below 1.0950 and fell to 1.0920, reaching the lowest level since March 14. The pair remains under pressure amid a stronger US dollar overall. Treasury […]
The bullish bias remains unchanged
DXY falters once again around the 99.00 region on Tuesday. More gains are likely on a close above 99.00. The US Dollar Index (DXY) trades within a tight range near the 99.00 zone so far on Tuesday’s reversal. DXY manages well to further extend the bounce away from decent containment in the 97.70 area (March […]
USD/CAD falls towards 1.2450, near the yearly low hit last week
A combination of factors is dragging USD/CAD lower for the second day in a row. The war in Ukraine benefits the CAD and puts some pressure on the pair. A modest USD weakness further contributes to the selling tone around the pair. Aggressive Fed expectations should limit USD decline and offer some support. The pair […]
US dollar index DXY falters around 99.00 level ahead of data
The DXY index bounce was unable to close above the 99.00 level. US yields regain some composure on Tuesday. ISM Services PMI and Markit Services PMI stand out on today’s economic calendar. The US dollar index DXYwhich measures the strength of the dollar against a basket of major currencies, faces some downside pressure near the […]
