The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, initially rose after a higher-than-expected January Consumer Price Index (CPI) data but then reversed course. Inflation beat estimates, causing investors to reassess the Federal Reserve's (Fed) policy path. While Fed Chair Jerome Powell remained non-committal on future interest rate cuts, Treasury yields moved higher, supporting the DXY early in the American session, but later fell below 107.90.
The US Dollar Index attempted to move higher but faced resistance at 108.50, struggling to reclaim the 20-day Simple Moving Average (SMA). The Relative Strength Index (RSI) remains below 50, indicating weak momentum. The Moving Average Convergence Divergence (MACD) histogram continues to show bearish traction.
Immediate support is at the 108.00 level, followed by the key psychological level at 107.50. A sustained move above 108.50 could open the door to 109.00, but selling pressure remains.
Source: FXstreet
The dollar weakened on Thursday (October 9th), for the first time this week; most G-10 currencies weakened on the day, with the Australian and Canadian dollars outperforming the rest. The Bloomberg D...
The US dollar strengthened on Thursday (October 9th), continuing its gains this week, driven by a weaker euro due to the political crisis in Paris and a weaker yen amid a change in the ruling party le...
The dollar extended its gains for a third day on Wednesday, its longest winning streak since September 19. Most G-10 currencies weakened on the day, with the Canadian dollar outperforming the rest. T...
The dollar continued its strengthening for a second day, pressuring all G-10 currencies; the Japanese yen slumped for a fourth session to its weakest level since March before paring losses. The Bloom...
The US Dollar Index (DXY) continued its strengthening for a second day and briefly hovered around 98.20 during the Asian session, driven by hawkish comments from Kansas City Fed President Jeffrey Schm...
European stock markets were trading mostly lower on Thursday, as a privatization bid by HSBC for its Hong Kong-based subsidiary dragged down the wider banking sector in the region. The pan-European Stoxx 600 declined by 0.4% and the FTSE 100 in...
Gold moved down from a record high early Thursday as traders take profits while the dollar rose to a two-month high. Spot Gold was last seen down 0,72% to $4,010.40 per ounce. The price of the precious metal has climbed 21% since Aug. 18 when it...
The S&P 500 and Nasdaq Composite reached new heights on Thursday as the market's march higher carries on. The broad market index hovered around the flatline, while the tech-heavy index dropped 0.2%. Both indexes had hit new all-time intraday...
Asia-Pacific markets traded mixed Wednesday, breaking ranks from Wall Street losses, after the World Bank raised the region's growth forecast...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for...
The S&P 500 and Nasdaq Composite closed at record highs on Monday, spurred by optimism about increased mergers and acquisitions activity after...
The S&P 500 and Nasdaq 100 extended record closes on Monday, rising 0.4% and 0.8%, fueled by AI-related dealmaking that boosted investor...