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USDX-DEC24

Analysis

Analysis - 1 day agoBullish

Technical Analysis – Has the US dollar index peaked?

US dollar index faces pressure near one-year highFlag formation could lead to bullish continuationThe US Dollar Index (DXY) recently reached its November 2023 peak of 106.95 before edging slightly lower. Despite this pullback, there are no clear indications that the uptrend has peaked.The index, which tracks the US dollar’s value against six major currencies, is currently following a downward-sloping flag pattern.
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Analysis - 2 days ago

Daily Comment – Geopolitics dictates market sentiment, but dollar fails to benefit

Geopolitics in the spotlight, gold gainsDollar fails to benefit from the risk-off reactionStocks slightly in the green, as markets await Nvidia earningsPound gains after CPI report; bitcoin reaches $94,000It almost feels like the Cold War againDevelopments in the Ukraine-Russia conflict are monopolizing the markets' interest, as the first usage of long-range US missiles prompted a quick revision of Russia’s nuclear weapons doctrine.
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Analysis - 4 days ago

Daily Comment – Gold edges up amid Ukraine tensions, stocks and dollar subdued

Gold rebounds as Biden lets Ukraine use long-range missiles on RussiaYen slips again after Ueda offers no clues on December hikeEquities mixed as Trump trade fadesUkraine war escalates as Biden U-turns on missilesThe conflict between Ukraine and Russia took a dangerous turn on Sunday after President Biden gave Kyiv the green light to use long-range US missiles inside Russia.
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Analysis - 1 week ago

Daily Comment – Wall Street loses more steam as Powell not in a hurry to cut rates

US stocks set for weekly loss as Powell adds to Fed’s hawkish soundbiteBut dollar unable to hit fresh highs; US retail sales eyed nextYen firms after verbal intervention; euro also reboundsDecember cut in doubt after Powell commentsFed rate cut expectations were dramatically pared back on Thursday after Fed chief, Jerome Powell, rounded up the week’s hawkish rhetoric by adding to the sense of caution about the pace of easing.
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Analysis - 1 week ago

Daily Comment – Dollar wavers on US CPI, surges on hawkish Fed remarks

US CPI meets expectations, bolstering rate cut hopesBut Fed hawks spoil the mood as dollar hits one-year highGold continues to bleed even as stocks stumble Dollar ascends as Fed wary after CPI reportThe US dollar’s post-election surge shows no sign of ending as it advanced to one-year highs against a basket of currencies on Thursday, causing fresh pain for its rivals.
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Analysis - 1 week ago

Daily Comment – Dollar extends gains, bitcoin soars but stocks lose momentum

Tariff fears weigh on euro and other majors, dollar continues to climbBitcoin and Wall Street hit new records but broader equities stumble   Gold unable to get a boost from Trump picking hawks for this team   Trump trade still powering the marketsSpeculation about the expected impact of Donald Trump’s policies continues to dominate the market theme, as investors await details about who will be in Trump’s cabinet.
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Analysis - 2 weeks agoBullish

Technical Analysis – US dollar index buyers keep away but still present

US dollar index’s bullish gap still intact200-day SMA looks to be tough support lineTechnical oscillators appear positiveThe US dollar index declined considerably after the upward wave to the four-month peak of 105.30, but it failed to cover the gap that was created on Wednesday.The RSI is above its 50 neutral mark, although weaker, and the stochastic oscillator is keeping its footing to the upside, both reflecting that buyers are still active.Nevertheless, the pair has key levels underneath f
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Analysis - 2 weeks ago

Week Ahead – US CPI to shift market focus back to data after Trump shock

After Trump comeback, normality to return to markets with US CPIGDP data from UK and Japan to also be importantBut volatility to likely persist as markets assess impact of Trump 2.0US CPI eyed as rate cut bets fade after Trump winDonald Trump’s historic return to the White House was met with a euphoric response by the markets. Wall Street and Bitcoin rallied to record highs, while the US dollar skyrocketed to 4-month highs.
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Analysis - 2 weeks ago

Daily Comment – Dollar and stocks surge on Trump victory bets

Donald Trump secures key battleground statesDollar rallies as his policies are seen as inflationaryStocks celebrate prospect of tax cuts and deregulationBitcoin hits fresh record high, oil retreatsTrump knocks the White House doorThe dollar skyrocketed during the Asian session today, and it appears to be headed for its biggest one-day gain since March 2020.Following the closing of the election ballots in the US, early signs that former president Donald Trump is likely to return to the White Hous
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Analysis - 2 weeks ago

Fed set to cut rates under the shadow of US elections – Preview

Fed expected to cut rates for second time, overlook political risksBut will it be the last cut for 2024?Dovish tone and election results pose a risk for dollar bullsFOMC Decision is due at 19:00 GMT Thursday, Powell conference at 19:30 GMTAfter much back-and-forth, a 25-bps cut is a done dealThe Federal Reserve is almost certain to deliver its second rate cut of this easing cycle on Thursday, with the size of the reduction no longer in question following a string of upbeat economic indicators ou
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Analysis - 3 weeks ago

Daily Comment – Dollar gaps down as Trump seems to be losing Iowa

Nonfarm payrolls slow to the smallest gain since Dec 2020Dollar opens Monday with negative gap on US election pollWhat will Fed officials decide just after the election?RBA gets the ball rolling tonight; expected to stand patDollar brushes off very weak nonfarm payrollsThe dollar finished Friday’s session up against most of its major peers, despite nonfarm payrolls slowing to 12k last month, the smallest gain since December 2020.Despite the surprisingly low number, the market brushed off the r
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Analysis - 3 weeks ago

Daily Comment – Wall Street lifted by earnings as election jitters boost gold

US dollar and gold remain elevated as markets bet on Trump winBut Nasdaq hits record amid optimism about tech earningsSlew of data awaited out of the US and Eurozone, UK budget also eyedUS election angst still driving sentiment  Growing anxiety about the US presidential election continued to set the market mood on Wednesday, with Republican candidate Donald Trump extending his gains in the polls.
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Analysis - 4 weeks ago

Week Ahead – A decisive week for USD with NFP and more; BoJ meets

A crucial week lies ahead with US jobs report, advance GDP and PCE inflationThe Bank of Japan is expected to hold rates, but will it flag a year-end hike?Flash GDP and CPI data for the euro area are also hotly anticipatedAustralian quarterly CPI and UK budget on the agenda tooAll eyes on US data as Fed turns hawkish againThe Federal Reserve’s surprise decision in September to cut rates by a larger-than-expected 50-basis-points seems like a distant memory now, as policymakers are once again sen
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Analysis - 4 weeks ago

Daily Comment – Stocks under pressure amid US election jitters, dollar extends gains

Reduced Fed rate cut bets and growing odds of a Trump win push up yieldsWall Street slips; gold also takes a hit, but only temporarilyDollar climbs to 3-month high, yen and euro struggleWall Street headed for weekly lossesThe rally on Wall Street came to an abrupt end this week as uncertainty about the looming US presidential election as well as about the pace of Fed rate cuts undermined confidence in risk assets.
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Analysis - 4 weeks ago

US elections update: The race to the White House tightens

Trump closes in on Harris’s lead in the pollsNeck and neck race spurs market jittersOutcome still hinges on battleground statesTrump narrows the gapThe time for Americans to vote for a new president is drawing ever closer, but who will win on November 5 is looking a lot less certain now than it did when Vice President Kamala Harris entered the race.
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Analysis - 4 weeks agoNeutral

Daily Comment – Demand for safe assets lingers

Dollar, gold and US yields are on the riseUS presidential election risks start to affect market sentimentFocus today on central bank speakers at the IMF annual meetingBRICS summit could generate headlines, particularly for the Middle EastUS presidential election is firmly on the market's radarThe US dollar continues to enjoy strong demand, outperforming its main counterparts.
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Analysis - 1 month ago

Daily Comment – Gold and dollar edge up as markets bet on Trump win

US election risks move to the forefront as Trump narrows gap with HarrisGold begins week with new record as geopolitical tensions add to demandStocks mixed ahead of key earningsTrump trade makes a returnGold extended its record streak at the start of the new trading week as investors increasingly bet on Donald Trump winning the US presidential election on November 5. The precious metal climbed to all-time highs above $2,730/oz amid the growing risk of Trump returning to the White House.
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Analysis - 1 month agoBullish

Technical Analysis – US dollar index retreats after strong bullish wave

US dollar index finds resistance at 200-day SMAStochastic and RSI edge downThe US dollar index is easing somewhat after the aggressive buying interest that started back in September 27. The price added almost 4% and recorded a fresh more-than-two-month high around 103.67, finding resistance at the 200-day simple moving average (SMA).If the market overcomes the latter obstacle could endorse the bullish pressure towards the 104.50 resistance.
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Analysis - 1 month agoNeutral

Daily Comment – Stocks under pressure by chipmakers, pound slips on CPI drop

Chip stocks hit by selloff after ASML cuts 2025 guidanceDollar stretches gains as pound and kiwi fall on lower inflationOil steadier amid ongoing ME drama, gold heads towards fresh recordChip and AI stocks take a diveEquity markets suffered a setback on Tuesday after Dutch semiconductor giant, ASML, sparked panic about the demand outlook for chips when it accidentally published its earnings report a day early.
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Analysis - 1 month agoNeutral

Daily Comment – Wall Street hits new record after Fed minutes, CPI eyed next

Fed minutes show split over September cut but Wall Street ralliesDollar eases from near 2-month high as focus turns to CPI reportGold and oil steadier after recent lossesFed minutes add little clarity The minutes of the Federal Reserve’s September policy meeting published on Wednesday did little to end the uncertainty about the pace of rate reductions over the coming months.
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