Beginners

Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Indices

DXY: Return of safe haven – OCBC

Source Fxstreet

US Dollar (USD) fell overnight as US PPI data underwhelmed. DXY was last at 98.32 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Daily momentum is mild bearish bias

"But USD rebounded this morning, alongside other safe-haven proxies, including CHF, JPY and gold on geopolitical escalation. Israel attacks on Iran also saw >10% jump in brent. "

"Not surprisingly, risk proxies including AUD and KRW traded on the backfoot. Iran has indicated that they will respond 'harshly'. Geopolitical noises may temporarily distort the USD downtrend and temporarily weigh on risk proxies especially heading into the weekend."

"Daily momentum is mild bearish bias while RSI shows signs of rising from near oversold conditions. Support at 97.60 (overnight low). Resistance at 99.30 (21 DMA), 99.80 levels (50 DMA)."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Ripple’s $21 Trillion Dream: What Capturing 20% Of SWIFT Volume Means For XRP Ripple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO

Author NewsBTC

7 Month 14 Day Mon

Ripple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO

Oil Prices Rise on Sharp U.S. Inventory Drop; Trade Deals Take Center Stage Oil prices edged higher during Thursday’s Asian trading session, supported by data showing a sharp drop in U.S. crude inventories, as investors cautiously awaited developments on trade agreements ahead of Donald Trump’s looming deadline.

Author Mitrade

19 hours ago

Oil prices edged higher during Thursday’s Asian trading session, supported by data showing a sharp drop in U.S. crude inventories, as investors cautiously awaited developments on trade agreements ahead of Donald Trump’s looming deadline.

Dollar Inches Higher as Traders Await ECB Decision and U.S. Data Releases The U.S. dollar edged higher Thursday but remains at low levels, while the euro slipped ahead of the latest policy-setting meeting from the European Central Bank.

Author Mitrade

18 hours ago

The U.S. dollar edged higher Thursday but remains at low levels, while the euro slipped ahead of the latest policy-setting meeting from the European Central Bank.

Tesla Shares Slide as Musk Warns of Tough Quarters Ahead Amid Weaker Demand Tesla (NASDAQ: TSLA) shares fell more than 5% in U.S. premarket trading on Thursday, after CEO Elon Musk cautioned investors about a potentially challenging period for the electric vehicle giant. The warning comes as the company struggles with softer consumer demand and the looming expiration of key federal tax incentives for EV buyers.

Author Mitrade

18 hours ago

Tesla (NASDAQ: TSLA) shares fell more than 5% in U.S. premarket trading on Thursday, after CEO Elon Musk cautioned investors about a potentially challenging period for the electric vehicle giant. The warning comes as the company struggles with softer consumer demand and the looming expiration of key federal tax incentives for EV buyers.

U.S. stock futures edge up as Wall Street rallies on Alphabet's surge to record highs U.S. stock index futures experienced a slight uptick on Thursday evening, buoyed by record-high closures on Wall Street following strong earnings reports from Alphabet and optimism surrounding potential trade agreements.

Author Mitrade

1 hour ago

U.S. stock index futures experienced a slight uptick on Thursday evening, buoyed by record-high closures on Wall Street following strong earnings reports from Alphabet and optimism surrounding potential trade agreements.

Related Instrument