DXY: 2-way risks near term – OCBC
Source Fxstreet
The US Dollar (USD) slipped amid slippage in initial jobless claims but levels remain confined to recent lows. Dollar Index (DXY) was last at 100.65, OCBC FX analysts Frances Cheung and Christopher Wong note.
Interim double-bottom seems to be forming
“Daily momentum is mild bullish while RSI dipped. Interim double-bottom appears to be forming – we continue to watch price action. Resistance at 101.10 (21 DMA), 101.90. Support at 100.20 levels (interim double bottom).”
“This week, we watch core PCE (Friday). A hotter print would bring back fears of second-round inflation risks, especially so when Fed is guiding for frontloading of rate cuts. We are also caution of quarter-end flows that may distort price action in the short term.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Silver/AUD (XAGAUD) is up 2.14% at Oct 5 03:55(ET), now at $88.575, with a 7-day up of 2.59%.What is driving Silver/AUD (XAGAUD)’s stock price up today?The sharp upward movement in silver priced in Au
WTI Price Forecast: Hangs near four-week low, around $89.00 as bears seem noncommittalWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts sellers for the second straight day on Monday and sticks to its intraday losses around the $89.00 mark through the early European session.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts sellers for the second straight day on Monday and sticks to its intraday losses around the $89.00 mark through the early European session.
Euro softens below 1.1250 on France’s fiscal riskThe EUR/USD pair loses momentum to around 1.1245 during the early Asian session on Monday. The Euro (EUR) weakens against the US Dollar (USD) amid fears over France's shaky fiscal trajectory. The US ISM Services Purchasing Managers Index (PMI) report is due later on Monday.
The EUR/USD pair loses momentum to around 1.1245 during the early Asian session on Monday. The Euro (EUR) weakens against the US Dollar (USD) amid fears over France's shaky fiscal trajectory. The US ISM Services Purchasing Managers Index (PMI) report is due later on Monday.
WTI Price Forecast: Dips to $91.50 as Middle East jitters limit lossesWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
Silver price (XAG/USD) is up 0.55% to near $61.38 during the late Asian trading session on Friday. The white metal edges up as rally in United States (US) Treasury Yields has hit a pause.
Related Instrument
