It is hard to exclude the risk of the USD staying firm for a bit longer – Scotiabank
Source Fxstreet
The US Dollar (USD) is stronger versus all G10 currencies this week although that strength has partially reversed. Economists at Scotiabank analyze Greenback’s outlook.
Key support for the DXY at 103.90 may be out of reach today
The USD has given back a lot of its CPI-driven gains over the balance of this week, leaving the broader trend higher at some risk of stumbling, at least according to the charts.
Key support for the DXY sits at 103.90 but that may be out of reach today.
And while the DXY still looks stretched from a short-term valuation perspective, it’s hard to exclude the risk of the USD staying firm for a bit longer at this point – certainly while US yields remain relatively elevated.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
Shiba Inu Price Prediction: 91T Age Consumed supports 25% SHIB rally Shiba Inu closed trading above $0.000015 level despite a 4% correction on Wednesday. Market reports suggest the SHIB price dip is linked to controversy surrounding a Chinese firm acquiring $300 million worth of Trump’s official memecoin.
Shiba Inu closed trading above $0.000015 level despite a 4% correction on Wednesday. Market reports suggest the SHIB price dip is linked to controversy surrounding a Chinese firm acquiring $300 million worth of Trump’s official memecoin.
Solana started a fresh increase above the $175 zone. SOL price is now correcting gains and might find bids near the $172 support zone.
Related Instrument
