USD Index: Weekly close below 104.00 should add to negative technical pressure – Scotiabank
Source Fxstreet
The US Dollar Index (DXY) is mild lift on the day. Economists at Scotiabank analyze the index outlook.
Upside potential remains limited
The USD seems to be stretching its yield-based valuation somewhat and upside potential remains limited without new motivation for markets.
There is a hint of USD vulnerability on the weekly DXY chart. The Index closed well off last week’s high, suggesting a rejection of the 61.8% retracement of the DXY’s Q4 decline (104.77). A lower close this week (below 104.00) should add to negative technical pressure on the USD generally.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold price (XAU/USD) extends the decline to around $4,030 during the early Asian session on Tuesday. The precious metal edges lower as traders dialed back expectations of a US interest rate cut next month.
Pi Network Price Annual Forecast: PI Heads Into a Volatile 2026 as Utility Questions Collide With Big UnlocksPi Network heads into 2026 after a 90%+ 2025 drawdown from $3.00, with 17.5 million KYC users and a smart-contract-focused Stellar v23 upgrade offering upside potential, but 1.21 billion tokens unlocking and heavy exchange deposits (437 million PI) keeping supply pressure and trust risks firmly in focus.
Pi Network heads into 2026 after a 90%+ 2025 drawdown from $3.00, with 17.5 million KYC users and a smart-contract-focused Stellar v23 upgrade offering upside potential, but 1.21 billion tokens unlocking and heavy exchange deposits (437 million PI) keeping supply pressure and trust risks firmly in focus.
Bitcoin Price Forecast: BTC hits three-month high on derivatives-led surgeBitcoin (BTC) price surges above $80,000 on Monday, reaching the highest level since the end of January. Institutional demand supports this price surge, as spot Exchange Traded Funds (ETFs) recorded inflows of over $153 million last week, marking the fifth consecutive week of positive flows.
Bitcoin (BTC) price surges above $80,000 on Monday, reaching the highest level since the end of January. Institutional demand supports this price surge, as spot Exchange Traded Funds (ETFs) recorded inflows of over $153 million last week, marking the fifth consecutive week of positive flows.
Discover the best Japanese stocks to buy, including AI semiconductor leaders, Buffett-backed trading houses, and undervalued Japan stocks benefiting from corporate reforms and yen trends.
Gold (XAU/USD) drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday.
Related Instrument
