The Dow Jones Industrial Average (DJIA) took another leg lower on Friday, testing below the 46,800 level for the first time in almost three weeks as an AI stock pullback and withering consumer survey results drag down both sides of the investment-consumption equation.
US Dollar (USD) retraced some of yesterday’s losses and stock markets stabilized after selling off yesterday. USD will struggle to gain more upside traction as it’s trading above the level implied by US-G6 2-year bond yield spreads.
Having been bid for a week, the dollar finally softened yesterday. The catalyst appeared to be some Challenger layoff data and also some alternative data suggesting October's NFP report, which we were meant to see today, should have fallen by 9k, ING's FX analyst Chris Turner notes.
Sentiment regarding the US Dollar (USD) brightened significantly. As yesterday's events showed, this positive sentiment proved to be extremely fragile. An outplacement company reported unusually high layoffs last month.
US Dollar (USD) slipped further overnight, in line with our earlier technical caution – that we were monitoring for signs that the USD rebound has turned its course. Indeed, the runup failed to break above 200dma and turned lower.
The US Dollar trims losses on Friday with investors wary of risk following another sell-off on Wall Street, as concerns of an AI bubble remain alive.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is rebounding after losing nearly 0.5% in the previous session and trading around 99.80 during the Asian hours on Friday.
The US Dollar (USD) added to Wednesday’s small correction, slipping back to multi-day lows in the context of a widespread recovery in the risk-associated galaxy. In the meantime, the US federal government shutdown extended further, hitting a record with still no solution in sight.
The Dow Jones Industrial Average (DJIA) tumbled 400 points on Thursday, falling to its lowest valuation in nearly two weeks as equity indexes were crushed underfoot by a broad pivot out of AI tech stocks.
USD retraced some of its recent gains after testing resistance at the 200-day moving average. No policy-relevant data will be released today but a full slate of Fed speakers could generate some market volatility (Williams, Barr, Hammack, Waller, Paulson, and Musalem), BBH FX analysts report.
US Dollar (USD) slipped this morning, taking cues from slight recovery in risk sentiments. DXY last at 100 levels. Overnight, US data – ADP employment, ISM services - came in better than expected, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Dow Jones futures fall 0.11% to trade below 47,400 during European hours ahead of the opening of the United States (US) regular session on Thursday. Moreover, the S&P 500 futures and Nasdaq 100 declined by 0.14% and 0.24%, with trading around 6,820 and 25,700, respectively.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades on a negative note around 100.05 during the Asian trading hours on Thursday.
The Dow Jones Industrial Average (DJIA) crimped bearish flows on Wednesday, finding a near-term foothold near the 47,200 level and rising 300 points as equity markets recover following an early-week plunge in the heavily concentrated AI and tech infrastructure segments.
The US Dollar (USD) is trading narrowly mixed against its major currency peers this morning. Risk sentiment retains a soft undertone, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
US Dollar (USD) continues to grind higher, nearing its 200-day moving average. Global stock markets are still under pressure, but the losses are more limited than yesterday, BBH FX analysts report.
The US Dollar (USD) advanced to levels above 100 in Dollar Index (DXY) yesterday and EUR/USD broke below the 1.1500-level although the technical breaches of these levels has not as yet triggered any increased momentum for buying.
The Dollar Index (DXY) rebound to late-July’s 100 level reflects a confluence of near-term supporting factors – Fed Chair Jerome Powell’s pushback on a December rate cut amid tight funding conditions and haven demand as the US government shutdown enters its second month, DBS' Senior FX Strategist Ph
I think that the easing of tensions on the trade front is good for everyone involved. This includes central banks, which may now have the opportunity to set their monetary policy in a somewhat less uncertain environment. I would like to point out one aspect in particular.
US Dollar (USD) received another jolt higher overnight, this time due to sudden turn in risk sentiments. DXY last at 100.10 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades on a negative note around 100.15 during the Asian trading hours on Wednesday.
The Dow Jones Industrial Average (DJIA) fell alongside its major index peers on Tuesday, shedding nearly 300 points from Monday’s closing prices as investors pivoted into fresh concerns that the global AI tech craze may have left equity markets overly concentrated in key stocks with dubious revenue
The US Dollar (USD) is extending gains for a fifth day, driving the Dollar Index (DXY) to test the 100 area on the back of weaker equity market risk sentiment, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The BBDXY index (broad US Dollar Index) is trading just under two key resistance levels at 1224.64 (August 1 high) and 1228.38 (200-day moving average). The bond market is stable but global stocks are selling off.
US Dollar (USD) continued to drift higher, taking cues from a divisive Fed, OCBC's FX analysts Frances Cheung and Christopher Wong note. DXY last at 99.96 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Following the blackout period and last week's Fed meeting, the momentum behind officials' statements continues to grow.
This week is all about reassessing December Fed rate cut expectations. That process began with Chair Powell’s press conference last Wednesday and continues with FOMC member remarks and the limited data still being released, ING's FX analyst Francesco Pesole notes.
Dow Jones futures move down by 0.72% to trade below 47,150 during European hours, with the S&P 500 futures and Nasdaq 100 futures declining 0.92% and 1.25%, trading below 6,850 and 26,000, respectively, during the European hours ahead of the United States (US) regular opening on Tuesday.
The Dow Jones Industrial Average (DJIA) faced fresh declines on Monday, kicking off the new trading week with a 200-point decline. The Dow briefly tested below the 47,250 level for the first time in over a week, as 'Magnificent 7' concentrated investment gains lift other indexes.
The US Dollar (USD) is extending gains against the majors to start the week, building on last week’s post-FOMC strength to pull the DXY above the 99.50 zone to reach its highest since August, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.