The US Dollar Index (DXY) extends its gains on Tuesday as renewed tensions between the United States and Iran show no signs of easing, boosting demand for the safe-haven Greenback.
The Dow Jones Industrial Average climbs around 340 points, or 0.7%, on Tuesday, snapping a three-day slide that had pulled the index away from early July's record just above 53,300.
ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note that the Dollar is drawing broad-based support as markets slowly react to escalating tensions in the Gulf.
The US Dollar (USD) trades marginally lower against its major currency peers in Tuesday’s European session, as the appeal of safe-haven assets has diminished due to hopes of a ceasefire between the United States (US) and Iran.
Dow Jones futures gain 0.29% to trade around 52,220 during European trading hours on Tuesday. Meanwhile, S&P 500 futures and Nasdaq 100 futures advance 0.44% and 1.12%, trading near 7,520 and 29,100, respectively.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining in the positive territory and trading around 101.00 during the Asian session on Tuesday.
The US Dollar Index (DXY) rises around 0.2% toward 101.00 as higher United States (US) Treasury yields and escalating tensions in the Middle East support the Greenback.
The US Dollar Index (DXY) edges higher on Monday as heightened tensions in the Middle East drive demand for the safe-haven Greenback.
The Dow Jones Industrial Average trades near the 52,000 handle on Monday, down roughly 100 points, while the S&P 500 adds 0.4% and the Nasdaq Composite climbs 0.9%, with all three coming off a losing week.
ING’s Chris Turner notes that deteriorating Gulf headlines and higher energy prices are keeping the Dollar supported, even if US Dollar Index (DXY) remains about 1% below its June peak.
Dow Jones futures gain 0.14% to trade around 52,450 during European trading hours on Monday. Meanwhile, S&P 500 futures and Nasdaq 100 futures advance 0.26% and 0.50%, trading near 7,520 and 28,920, respectively.
BNY’s Geoff Yu notes that softer United States (US) inflation has eased pressure for a more hawkish Federal Reserve (Fed) path, shifting focus to S&P Purchasing Managers' Index (PMI) data for confirmation that growth remains resilient.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 100.75 in the early European trading hours on Monday.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on a modest Asian session uptick on Monday and currently trades around the 100.80-100.75 region, nearly unchanged for the day.
The Dow Jones Industrial Average trades near 52,250 on Friday, down nearly 300 points late in the month's strangest session.
The US Dollar Index (DXY) trades nearly unchanged around 100.70 on Friday after surrendering part of its initial advance.
Scotiabank’s Shaun Osborne and Eric Theoret note the US Dollar (USD) is broadly firmer as risk aversion dominates, with equities weaker and Oil higher.
ING strategists Francesco Pesole and Frantisek Taborsky note that DXY-weighted short-term implied volatility has dropped to 2021 levels, despite geopolitical tensions and Federal Reserve risks. Pesole argues that AI-driven equity resilience is anchoring currencies and supporting carry trades.
MUFG’s Derek Halpenny notes that ongoing Middle East conflict, stronger United States (US) data and crude Oil risks are limiting US Dollar (USD) selling. Better manufacturing and retail figures have not shifted Fed expectations much, but a full hike remains priced by year-end.
Brown Brothers Harriman’s Elias Haddad notes that the Dollar has recovered part of this week’s losses as a tech-led equity selloff spurs a modest flight to safety.
OCBC Bank strategists Sim Moh Siong and Christopher Wong highlight that the US Dollar (USD) remains supported by its yield advantage and safe-haven status, with FX moves still fitting the USD smile framework.
Dow Jones futures fall by 0.65% to trade around 52,440 during European trading hours on Friday. Meanwhile, S&P 500 futures and Nasdaq 100 futures decline 0.88% and 1.69%, trading near 7,510 and 28,730, respectively. Traders await the preliminary Michigan Consumer Sentiment Index for July.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts some sellers following an uptick on Friday, stalling its recovery from a nearly one-month trough, around the 100.35 region touched earlier this week.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, is seen oscillating in a narrow range just above the 100.50 level as traders await US President Donald Trump's speech.
The Dow Jones Industrial Average added roughly 160 points, or 0.3%, to trade near 52,800 on Thursday while the S&P 500 slipped 0.2% and the Nasdaq Composite shed 0.9%.
Brown Brothers Harriman’s (BBH) Elias Haddad notes the US Dollar (USD) has steadied near a one‑month low after softer United States (US) Producer Price Index (PPI) and Consumer Price Index (CPI) data weighed on Fed funds pricing.
ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note the Dollar remains under pressure after softer US CPI and PPI data, with FX volatility declining and Brent around $85.
MUFG’s Lee Hardman notes that the US Dollar has weakened, with the US Dollar Index (DXY) moving back towards 100.00 as softer June CPI and PPI data point to a lower monthly core PCE reading and reduced pressure on the Federal Reserve to tighten policy.
Dow Jones futures edge lower by 0.02% to trade around 52,890 during European trading hours on Thursday. Meanwhile, S&P 500 futures and Nasdaq 100 futures decline 0.06% and 0.24%, trading near 7,610 and 29,620, respectively.
The US Dollar (USD) remains under pressure as traders have repriced the Federal Reserve’s (Fed) interest rate hike expectations. At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, holds onto Wednesday’s losses near 100.48.