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The US dollar could be undervalued if commodities continue to rip higher
Commodities are soaring, and of they continue to do so the US dollar could be undervalued as the case for any Fed cuts could evaporate.
GBP/USD hints at sentiment extreme ahead of BOE, FOMC: COT report
With a BOE and FOMC meeting pending and net-long exposure for GBP/USD at or near a sentiment extreme, I cannot help but wonder if the pound it due at least a pullback. I also take a closer look at the US dollar index (DXY), gold and the Nasdaq 100.
USD bears scramble, USD/JPY eyes breakout after US data: Asian Open
US dollar bears scrambled for cover following hot US economic data ahead of next week’s Fed meeting, helping USD/JPY rise to a 5-day high and eye a potential breakout today.
USD/JPY seems best bet for bulls amid a mixed US dollar environment
The US dollar rose for a second day, but its bearish reversal candle makes it less appealing to bulls. Yet USD/JPY shows promising signs of bullish mean reversion ahead of next week's BOJ and FOMC meetings.
US dollar index on track for its worst week of the year: The Week Ahead
With Fed Chair Jerome Powell effectively delivering a dovish pivot during his testimony to the house Committee, traders will no doubt jump onto weaker US economic data to reprice multiple rate cuts - and that could weigh further on the US dollar.
USD forecast: Positioning hints at headwinds for USD, 2-year yield
Short bets against the US 2-year yield continue to diminish yet remain at a sentiment extreme. And as the yield flatlined above 5% in 2023 despite aggressive short positioning, it suggests its yield may struggle to retake 5% this time around. And that could prove to be a headwind for the USD.
JPY futures near sentiment extreme, USD set to retrace? COT report
With the USD showing signs of a potential pullbacks and JPY futures nearing a potential sentiment extreme, USD/JPY may well struggle to break and hold above 152. EUR/USD also looks set to bounce despite lower net-long exposure, and gold future may struggle to hold above $2000 given the rise in short and trimming of long bets.
Can US inflation data make or break the US dollar? The Week Ahead
Whist the daily charts still appear favourable for another leg higher on the US dollar, the weekly charts and market positioning suggest some dark clouds may lurking above. And incoming CPI or inflation expectations data could make or break the dollar, if they lean enough in either direction.
EUR/USD, GBP/USD, USD/JPY: What 40+ Years of Fed Rate Cuts Tell Us About Trading Forex
Perhaps contrary to popular opinion, the start of a new Fed rate cut cycle has NOT been a consistent bearish catalyst for the US dollar. Read on to for more!
Dollars and Sense: The Short-Term Case for US Dollar Strength
How interest rate differentials, scarcity, and falling liquidity could work together to boost the US dollar
US dollar bulls resurface, ASX 200 tests well for today: Asian Open
The US dollar shows the potential to continue higher despite a wall of key moving averages. And according to forward returns analysis, the two days prior to Australia Day tend to bode well for the ASX 200.
USD: Behind the U.S. Dollar, the Global Reserve Currency
The U.S. Dollar plays an incredibly important role in the global economy and while ‘De-dollarization’ claims may pop up, the currency set a fresh all-time-high for usage last year and remains the world’s primary reserve currency.
USD bears have a rethink, GBP and AUD positioning diverges: COT report
The US dollar index rallied in line with last week’s bias on assumed short-covering. AUD/USD bears are retuning whilst traders pushed net-long exposure higher, making GBP/AUD longs of interest over the coming weeks.
USD dollar perks up, EUR/USD, AUD/USD take a turn for the worse
A key voting member of the FOMC pushed back on imminent Fed rate cuts on Tuesday, sending bond yields and the US dollar higher - to the detriment of EUR/USD and AUD/USD.
Can the US dollar break out of its range? The Week Ahead
At the time of writing, the US dollar has printed its smallest weekly range since September 2021 at just 69 points. And that is quite remarkable when you consider it has landed on a US inflation report week. Yet daily seasonal data has reveal January 15th to have delivered the strongest average returns and win rate for the month. And that date so happens to be this coming Monday.
Dollar analysis: Dollar Index, AUD/USD outlook in focus
Probability of March Fed cut drops on stronger jobs signals ahead of NFP. Dollar Index was testing a key resistance area at the time of writing, so there was the potential for a bearish reversal. Keep a close eye on the Aussie, euro and yuan.
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.
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.