DXY: A relief rebound after a bad week – DBS
Source Fxstreet
The Dollar Index (DXY) consolidates near the top end of its three-week range (100.5 and 101.9), DBS FX strategist Philip Wee notes.
DXY is near the top of a three-week range
“DXY may consolidate following a two-day rebound near the top end of its three-week range (100.5 and 101.9).”
“The US Treasury 2Y yield rose by 2.3 bps to 3.67% after four consecutive sessions of declines. Overnight, the Dow, S&P 500, and Nasdaq Composite indices each gained 1.2%, stabilizing after their worst weekly sell-off this year.”
“The futures market believes that the Fed needs to act more forcefully with a 50-bps cut at next week’s FOMC meeting to counter US recession fears tied to a cooling labour market.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
On April 8, spot gold ( XAUUSD) at one point surged past $4,800 per ounce, hitting a peak of $4,857; however, it fell back to $4,698 on April 9, wiping out all gains in just 48 hours. Thi
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – trades with a mild positive bias during the Asian session on Friday, though it lacks bullish conviction amid hopes of Iran ceasefire stabilizing.
Geopolitical Premium Strikes Back. Hormuz Strait Reopening Faces Changes, Bitcoin Barely Holds 70,000 Psychological LevelMiddle East tensions escalate ahead of negotiations, causing Bitcoin to pull back after a surge, with $70,000 becoming the watershed between bulls and bears.On April 9, unexpected develop
Middle East tensions escalate ahead of negotiations, causing Bitcoin to pull back after a surge, with $70,000 becoming the watershed between bulls and bears.On April 9, unexpected develop
The outlook for navigation through the Strait of Hormuz remains clouded by uncertainty, as the newly reached ceasefire agreement has failed to bring stability to this global energy choke
Gold price (XAU/USD) trades in negative territory around $4,705 during the early Asian session on Thursday. The precious metal edges lower amid a temporary two-week ceasefire between the US and Iran.
Related Instrument
