USD Index: 103.30 could be the risk today if European PMIs surprises on the upside – ING
Source Fxstreet
The US Dollar Index has dipped below 104.00. Economists at ING analyze DXY’s outlook.
DXY to trade in tight/slightly softer ranges barring a big jump in US initial claims
For today, we note the slightly better investment environment propelled by stellar earnings from Nvidia. We note here as well that Japan and Korea have high-end chip industries too and suspect that the Yen and Won will be a lot stronger later this year.
Barring a a big jump in US initial claims today expect DXY to trade in tight/slightly softer ranges and the bigger impetus to come out of Europe today.
DXY is currently on support at 103.80 and were European PMIs to surprise on the upside, 103.30 could be the risk today.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
Ethereum Price Forecast: ETH faces heavy distribution as price slips below average cost basis of investorsEthereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Bitcoin's plunge to $70K triggers a $775M leverage washout, driving a capital rotation into quantum-secure infrastructure project BMIC as investors seek uncorrelated alpha.
Precious metals' volatility mirrored Bitcoin's downturn as it targets lower price points.
Related Instrument
