DXY and EUR/USD are pretty stuck in ranges – Societe Generale

Source Fxstreet

Today’s BoJ rate hike is a step on the road to normalization, consistent with a less oversold Japanese Yen (JPY). The Dollar Index (DXY) seeing its biggest two-week since August, is consistent with the recent phase of dollar strength losing momentum. But range-trading is more likely than a significant downtrend, for now, Societe Genrale’s FX expert Kit Juckes notes.

USD is up against the GBP, down against the rest

“The third full week of 2025 is ending and so far, the pound is the weakest of the G10 currencies while the Australian and New Zealand dollars are fighting it out for top place. The USD is up against the pound, down against the rest, and the DXY is set to fall for a second week in a row for the first time since the latest rally kicked off at the end of September.”

“It’s the biggest two-week fall since August and the before that, the biggest since 2023. Finally, this fall has also helped move the Dollar Index loser to where relative rates might suggest it should be – current ‘fair value’ on that basis is around 104.5.”

“DXY and EUR/USD are pretty stuck in ranges, which I’ll define as 99 to 110 for the DXY, consistent with EUR/USD in a 1-1.12 range, until something changes dramatically. Indeed, a lot has to change before we get back to EUR/USD 1.10. This morning’s marginally better PMIs were welcome, but don’t count as a game-changer.”

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Author  FXStreet
Jul 01, 2024
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
placeholder
Dogecoin Crash Signal Flashes: Analyst Warns Of A Potential 40% DropDogecoin (DOGE) holders have been put on alert by crypto analyst Ali Martinez (@ali_charts), who shared a chart on Monday highlighting a noteworthy technical setup. According to Martinez, the Market
Author  NewsBTC
18 hours ago
Dogecoin (DOGE) holders have been put on alert by crypto analyst Ali Martinez (@ali_charts), who shared a chart on Monday highlighting a noteworthy technical setup. According to Martinez, the Market
placeholder
Bitcoin Faces Persistent Resistance at $100K, Analyst Eyes Next StepWeeks after hitting an all-time high above $109,000, Bitcoin’s price remains under pressure. It is currently trading below the $100,000 mark, an 11.4% decrease from its peak. The crypto asset’s
Author  NewsBTC
2 hours ago
Weeks after hitting an all-time high above $109,000, Bitcoin’s price remains under pressure. It is currently trading below the $100,000 mark, an 11.4% decrease from its peak. The crypto asset’s
placeholder
Amazon, Microsoft, Alphabet, and Meta Just Gave Nvidia Great News. But Does That Make The Stock A Buy Before Feb. 26?The stock market appears to be in the middle of quite the storm as of late. In the final days of January, a Chinese start-up called DeepSeek sent shock waves around the world after
Author  The Motley Fool
2 hours ago
The stock market appears to be in the middle of quite the storm as of late. In the final days of January, a Chinese start-up called DeepSeek sent shock waves around the world after
placeholder
XRP Price Pump To $3.35 On The Horizon With Bullish Cup And Handle Pattern FormationThe XRP price is getting ready for a significant pump, as a new Cup and Handle pattern has just formed on its chart. A crypto analyst who identified the pattern has released an analysis, predicting that XRP could rise to $3.35, marking a new local high for the cryptocurrency. Cup And Handle Pattern To Trigger […]
Author  Bitcoinist
50 mins ago
The XRP price is getting ready for a significant pump, as a new Cup and Handle pattern has just formed on its chart. A crypto analyst who identified the pattern has released an analysis, predicting that XRP could rise to $3.35, marking a new local high for the cryptocurrency. Cup And Handle Pattern To Trigger […]
goTop
quote