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US dollar set to bounce? Crude oil bulls eye $80, ASX 200 bears eye 6950
The US dollar held a key support level on Thursday, which could provide the platform for a bounce today if all goes well. Crude oil continues to hint at its own potential bounce, whilst the ASX 200 appears to have formed a swing high on the daily chart.
US dollar index approaches its 200-day MA as EUR/USD eyes resistance
With the US dollar continuing to soften during Monday’s Asian trade, we now wait to see if it can help EUR/USD break above a key resistance level. But with the 200-day MA nearby for the US dollar index, it might may hit a bump in the road.
Gold glistens as the US dollar plunges (XAU/USD, DXY)
It seems the dollar correction is finally underway, with the US dollar index suffering its worst single day in one year. And it shows the potential for further losses, even if it has found support for now. Gold also shows the potential to have another crack at $2000.
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USD/JPY rises to resistance, USD ready to retrace? Asian Open
If the BOJ were going to intervene, it could be argued they'd have done it already. But that doesn't mean the market can't do some of the work for them by sending USD/JPY lower from key resistance levels. And if the US dollar pulls back as I suspect, it places USD/JPY short onto the watchlist.
USD moves cautiously higher (for now) ahead of Fed speakers
We’ve seen a slight recovery in the US dollar, but this is to be expected following such a sharp selloff heading into the weekend. But with resistance looming, USD could be setting up for a potential swing trade short over the near term.
USD, DAX cling to support ahead of PMIs: European open – 24/10/2023
The USD is on the ropes as we enter this session, but it’s likely all down to yields as to where the dollar goes next. And we have enough data in the pipeline to make it go one way or the other. The DAX is also clinging to support, but I see the potential for some mean reversion ahead of its next leg lower.
S&P 500 and Dollar Index Analysis - Technical Tuesday
Welcome to another edition of Technical Tuesday. In this week’s report, we will get technical on the S&P 500 and Dollar Index. The benchmark index has bounced back as investors' focus turns to FOMC minutes, CPI and Consumer Sentiment, with US bank earnings also to start on Friday. Meanwhile, the Dollar Index chart shows a potential reversal signal ahead of all these events.
Q4 US Dollar Outlook: US Economic Exceptionalism to End?
The US dollar has surged on US economic exceptionalism so far this year, but that trend may change in Q4...
The US Dollar Milkshake Theory: A Sweet Deal for USD Bulls?
The US Dollar Milkshake Theory, in its essence, predicts a significant strengthening of the U.S. dollar against other world currencies - see why and it's potential implications!
Gold withstands USD strength (but for how long?): Asian Open – 23/08/23
The US dollar tracked the short-end of the yield curve higher on Tuesday, although gold managed to withstand dollar strength with spot prices flirting with a break above 1900. But having looked look at gold futures, I suspect the next level of support for spot gold prices could be around $1870 if momentum reverts lower.
Dollar analysis: EUR/USD and DXY approaching key levels - Forex Friday
Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will focus on the US dollar analysis, and provide updates on the EUR/USD outlook, before looking ahead to the next week, when we have global PMI data and the start of the Jackson Hole summit.
AUD/USD holds 64c as US dollar rally pauses: Asian Open – 18th August 2023
The risk-off tone of the week continued through to European and US sessions yesterday, with Wall Street indices falling for a third consecutive day. However, perhaps there is a bit of light at the end of the tunnel in hopes of stimulus. And with the US 2-year yield struggling to break 5% and the US dollar index stalling at the June high, perhaps there's some hope for AUD/USD just yet.
AUD/USD folds as the RBA holds (but DXY hints at support)
The RBA held their interest rate at 4.1% for a second consecutive month. And the fact AUD fell over -0.6% and the ASX touched a high of the week shows that not everyone was positioned for the outcome.
USD Index, AUD/NZD Analysis: Asian Open – 19th July 2023
US yields are showing signs of stability alongside the US dollar, hinting at a potential corrective bounce. And, whilst NZ CI was hotter than liked, I doubt it will be enough for another RBNZ hike which leaves a potential setup on AUD/NZD.
Canadian Dollar Analysis: Did USD/CAD Form a Bottom at 1.31?
A near-term bottom may be in for a USD/CAD rally back toward 1.3300+, depending on Canada’s CPI reading...
US Core PCE comes in stronger than expected; US Dollar bid
With the US Core PCE for January hotter than expected, the US Dollar is continuing its recent rise.
European Open: The dollar remains supreme amidst hawkish Fed speak
Talk of a 50bp Fed hike in March saw the dollar extend its lead late in the US session, and maintain its trajectory during Asian trade.
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US CPI hotter than expected, but still lower than December
With the next FOMC meeting not until March 22nd, the Fed will have plenty more inflation data to look at.
Markets in holding pattern as traders eye US CPI
…once again the focus is going to be on inflation and central bank speech.
European Open: The dollar rally loses steam, US economic data picks up pace
US economic data has outperformed expectations at an increasing rate, according to the City Economic Surprise Index (CESI)
Dollar extends rally
That surprise 500-thousand-plus job gains we saw on Friday means the market may gravitate towards “higher for longer” narrative
FOMC hikes 25bps, as expected. More rate hikes to come?
Today’s FOMC meeting was uneventful. However, Powell’s press conference which followed provided less hawkish comments for the markets to feast on
Philly Fed better than expected, but still negative
If the data continues to be worse than expected, will the US Dollar continue to be uninfluenced by it?