Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Indices

DXY: Return of safe haven – OCBC

Source Fxstreet

US Dollar (USD) fell overnight as US PPI data underwhelmed. DXY was last at 98.32 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Daily momentum is mild bearish bias

"But USD rebounded this morning, alongside other safe-haven proxies, including CHF, JPY and gold on geopolitical escalation. Israel attacks on Iran also saw >10% jump in brent. "

"Not surprisingly, risk proxies including AUD and KRW traded on the backfoot. Iran has indicated that they will respond 'harshly'. Geopolitical noises may temporarily distort the USD downtrend and temporarily weigh on risk proxies especially heading into the weekend."

"Daily momentum is mild bearish bias while RSI shows signs of rising from near oversold conditions. Support at 97.60 (overnight low). Resistance at 99.30 (21 DMA), 99.80 levels (50 DMA)."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Silver Price Forecast: XAG/USD has a strong support at $40.50 Silver (XAG/USD) has reversed losses after bouncing at $40.50 earlier on Monday, with price action returning to levels right above $41.00.

Author FXStreet

Yesterday 08: 22

Silver (XAG/USD) has reversed losses after bouncing at $40.50 earlier on Monday, with price action returning to levels right above $41.00.

US Dollar Index Price Forecast: 100-day SMA remains a key barrier The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.15% lower around 97.60 during the European trading session on Monday.

Author FXStreet

Yesterday 09: 20

The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.15% lower around 97.60 during the European trading session on Monday.

3 Red Flags for XRP in September That Could Derail a 2025 Price Rally Despite many positive predictions for XRP’s price in 2025, several on-chain data points reveal a different picture.

Author Beincrypto

Yesterday 09: 27

Despite many positive predictions for XRP’s price in 2025, several on-chain data points reveal a different picture.

Ethereum Price Forecast: BitMine's ETH stash surpasses $9 billion amid ETF outflow pressure Ethereum (ETH) trades around $4,300 on Monday following mixed sentiment from corporate treasuries and investors in ETH exchange-traded funds (ETFs).

Author FXStreet

14 hours ago

Ethereum (ETH) trades around $4,300 on Monday following mixed sentiment from corporate treasuries and investors in ETH exchange-traded funds (ETFs).

U.S. August CPI Preview: Persistent Rise in Inflation, What Impact on Rate Cuts? And on US Stocks?On Thursday, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI.

Author TradingKey

7 hours ago

On Thursday, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI.