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š°šµš„š«#DollarIndex (DXY) hangs near multi-month low, seems vulnerable above mid-103.00s
#Usd meets with a fresh supply amid worries about a tariff-driven slowdown in US growth. Bets that the Fed will resume its rate-cutting cycle sooner further weigh on the Greenback. The recent rally in the Euro and the JPY contributes to the strong USD bearish sentiment.
The USĀ Dollar IndexĀ (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on the previous day's modest gains and attracts fresh sellers during the Asian session on Tuesday. The index currently trades around the 103.70 area, down over 0.20% for the day, and remains close to its lowest level since early November touched last Friday.Ā
#UnitedStates
The crucial US Consumer Price Index (CPI) report is due for release on Wednesday and will be followed by the USĀ Producer Price IndexĀ (PPI) on Thursday. This might influence market expectations about the Fed's rate-cut path, which, in turn, will play a key role in driving the near-term USD price dynamics. In the meantime, traders on Tuesday will take cues from the Job Openings and Labor Turnover Survey (JOLTS) for short-term impetuses.
#Usd meets with a fresh supply amid worries about a tariff-driven slowdown in US growth. Bets that the Fed will resume its rate-cutting cycle sooner further weigh on the Greenback. The recent rally in the Euro and the JPY contributes to the strong USD bearish sentiment.
The USĀ Dollar IndexĀ (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on the previous day's modest gains and attracts fresh sellers during the Asian session on Tuesday. The index currently trades around the 103.70 area, down over 0.20% for the day, and remains close to its lowest level since early November touched last Friday.Ā
#UnitedStates
The crucial US Consumer Price Index (CPI) report is due for release on Wednesday and will be followed by the USĀ Producer Price IndexĀ (PPI) on Thursday. This might influence market expectations about the Fed's rate-cut path, which, in turn, will play a key role in driving the near-term USD price dynamics. In the meantime, traders on Tuesday will take cues from the Job Openings and Labor Turnover Survey (JOLTS) for short-term impetuses.
#DollarRally110 š
The Dollar Index (DXY) has surged past the 110 mark for the first time since November 2022, posting a daily increase of 0.34%. š This milestone reflects growing confidence in the U.S. dollar amid shifting economic dynamics.
Could this strengthen the dollarās dominance, or will it create challenges for global markets? Letās discuss! š¬
#DollarIndex #ForexTrading #GlobalMarkets #USDEconomy ššµ
$USDC
The Dollar Index (DXY) has surged past the 110 mark for the first time since November 2022, posting a daily increase of 0.34%. š This milestone reflects growing confidence in the U.S. dollar amid shifting economic dynamics.
Could this strengthen the dollarās dominance, or will it create challenges for global markets? Letās discuss! š¬
#DollarIndex #ForexTrading #GlobalMarkets #USDEconomy ššµ
$USDC
#DXY Using the 92-100 range and it's extensions. (Monthlyš )
āBreaking below 103.7 will give the start of Phase 1š
#dollarindex #Bitcoin #Crypto #stockmarket
āBreaking below 103.7 will give the start of Phase 1š
#dollarindex #Bitcoin #Crypto #stockmarket
#US - #CPI (Apr):
MoM = +0.3% (expected +0.4% / previously +0.4%)
YoY = +3.4% (expected +3.4% / previously +3.5%)
Core CPI = +3.6% yoy (expected +3.6% / previously +3.8%)
Inflation is still confirmed at 3.4%.
This is very high from the level the #Fed is expecting.
On the back of yesterday's PPI there were expectations to see 3.5-3.6. But overall the situation is still complicated by the fact that there are no clear views on when the US will be able to control inflation, when the Fed will cut interest rates and when the situation will stabilize.
How long this decline in the #dollarindex will be within the medium term is unclear. We will watch the situation further
MoM = +0.3% (expected +0.4% / previously +0.4%)
YoY = +3.4% (expected +3.4% / previously +3.5%)
Core CPI = +3.6% yoy (expected +3.6% / previously +3.8%)
Inflation is still confirmed at 3.4%.
This is very high from the level the #Fed is expecting.
On the back of yesterday's PPI there were expectations to see 3.5-3.6. But overall the situation is still complicated by the fact that there are no clear views on when the US will be able to control inflation, when the Fed will cut interest rates and when the situation will stabilize.
How long this decline in the #dollarindex will be within the medium term is unclear. We will watch the situation further
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