dollar index

Special Report – US government shutdown impact, and the prospect for more

Posted on January 30, 2019 at 4:15 pm GMT

The US government shutdown has ended, for the next two weeks at least, leaving a trail of delayed economic data and lost economic output in its wake. Unless Republicans and Democrats can reach a compromise soon, the government will likely shut down again, or President Trump could declare a national emergency. Overall, the longer and the more frequent shutdowns become, the more political uncertainty rises – at a time when trade uncertainty is already elevated. The impact of the partial [..]

Technical Analysis – Dollar index struggles in narrow range; upside tendency in long term

Posted on December 17, 2018 at 10:29 am GMT

The dollar index has been consolidating after flirting with the one-and-a-half-year peaks at 97.50 in the previous week. In the short-term, sideways movement will likely continue as the technical indicators are flattening. The MACD stands below the trigger line with weak momentum, while the Relative Strength Index (RSI) hovers near the 50 level. On the upside, the index could retest the previous highs of 97.50. A decisive close above this region could bring further buying interest into the market, pushing the price [..]

Technical Analysis – US Dollar Index heads lower but remains in upward pattern

Posted on August 21, 2018 at 1:13 pm GMT

The US Dollar Index has declined considerably over the last three days following the bounce off the more than one-year high of 96.85, reached on August 15. The sharp sell-off, especially in the past sessions, has shifted the near-term bias from positive to negative. However, the price moved up after challenging the 20-day simple moving average (SMA) today, recovering on a significant part of its intraday losses. The momentum indicators are supportive of the bearish picture, with the RSI falling to approach the 50 level, while the [..]

US Open Preview – Dollar weakens ahead of US retail sales; oil on the backfoot

Posted on July 16, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar was trading below the 6-month high of 112.79 today against the Japanese yen, but managed to add some gains to its daily performance (+0.02%) ahead of the release of the US retail sales later in the day. The dollar index, which gauges the greenback’s strength versus six major currencies, moved lower by 0.24%. Pound/dollar rebounded sharply from near the 1.3101 barrier on Friday and drove the price even further to 1.3265 (+0.24%) on Monday. Meanwhile, euro/dollar climbed [..]

Technical Analysis – US Dollar Index is ready for bullish retracement; creates 7-week high

Posted on March 1, 2018 at 1:53 pm GMT

The US dollar index created a double bottom on February 16 near 88.20, posting a new more than 3-year low. The double bottom reversal is a bullish pattern indicating further gains on the price action as the index jumped above the significant area of 90.45. Currently, the price is recording a 7-week high near 90.75. In the daily chart, short-term momentum indicators are also pointing to a continuation of the bullish bias. The Relative Strength Index is well above the 50 level, suggesting [..]

Technical Analysis – US Dollar Index remains in correction mode; 23.6% Fibonacci level acts as strong resistance

Posted on January 11, 2018 at 11:03 am GMT

The US dollar index continues to hold in a bullish correction phase after the sharp roller coaster to the downside. The rebound on the 91.44 support level drove the price to the upside hitting a 7-day high of 92.34. In the 4-hour chart, the index is currently trading slightly below the 23.6% Fibonacci retracement level of the down-leg from 95.05 to 91.44. There is an important resistance zone between 92.40 and 92.30(23.6% Fibonacci level). Rising above this area would help shift the focus to [..]

Technical Analysis – US Dollar Index faces bullish correction following 10-day bearish run

Posted on January 3, 2018 at 10:44 am GMT

The US dollar index continues to hold within negative territory as it posted its tenth bearish day in a row on Tuesday. The price has plummeted more than 2% since December 2 and challenged a new more than 3-month low at 91.44. In the short-term timeframe, the index is trading slightly above the aforementioned level, however, a break below it could expose the price towards the 90.95 support level, which is standing since September 8. Conversely, a retracement on the upside could open the door for the next resistance level [..]

Forex News – Non-farm payrolls surprise to the upside; Dollar index hits above 93 key level

Posted on August 4, 2017 at 3:53 pm GMT

Following a dose of disappointing economic data out of the US with the most recent involving ISM non-manufacturing PMI released yesterday, the highly anticipated non-farm payrolls for the month of July took markets by surprise with the figures beating expectations. Consequently, the dollar surged and managed to break above the key level of 93 despite ongoing political turmoil around Trump’s administration. In July, 209,000 new positions were created in nonfarm sectors, a number that was below the previous mark of [..]

Forex News – US Q2 GDP expands as expected but dollar plummets

Posted on July 28, 2017 at 3:37 pm GMT

The dollar extended yesterday’s losses on Friday after the US GDP growth initial estimates for the second quarter of the year came in as expected but employment costs and the first look on quarterly inflation based on the PCE measure disappointed analysts. According to the Bureau of Economic Analysis, the US economy expanded substantially as expected by 2.6% on an annualized basis in the June quarter, approaching Trump’s desired growth target of 3% for 2017. The figure for the first [..]

Forex News – Dollar little reacts to initial jobless claims and durable goods figures

Posted on July 27, 2017 at 3:58 pm GMT

On Thursday, a day after the Fed decided to maintain benchmark rates unchanged, the Department of Labour released data on initial jobless claims recorded in the past week, while the Census Bureau published the number of new durable goods ordered for the month of June. Initial jobless claims edged up by 10 thousand and durable goods orders increased by more than double the expected figure. The core measure of durable goods orders, which excludes transportation items, marginally grew, but came [..]

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