USD PRICE OUTLOOK: YEAR-END DEMAND FOR US DOLLARS PUSHES DXY INDEX TO 2-WEEK HIGH, BUT DEATH-CROSS THREATENS RECENT REBOUNDThe US
USD PRICE OUTLOOK: YEAR-END DEMAND FOR US DOLLARS PUSHES DXY INDEX TO 2-WEEK HIGH, BUT DEATH-CROSS THREATENS RECENT REBOUND
- The US Dollar might rapidly pivot again decrease towards major currency pairs if a crucial technical degree prevents a sustained rebound try within the Buck
- Currency volatility is projected to fall subsequent week judging by 1-week implied USD value motion derived from foreign exchange choices contracts with the US vacation season kicking into full gear
- IG Client Sentiment supplies real-time perception on market positioning and the bullish or bearish biases of merchants on a number of currencies, commodities and fairness indices
The US Greenback staged a wholesome rebound try over the past a number of buying and selling days with the DXY Index – a popularly referenced basket of main USD forex pairs – advancing to its strongest degree since December 06.Along with lingering US-China commerce deal optimism, general solid US economic data has helped chisel away at FOMC charge reduce expectations.
One other elementary driver of the US Greenback this time of 12 months that may partly clarify the current rise in USD value motion is year-end demand, which has contributed to repo funding pressures. The current rise within the US Greenback is also technically defined with the 96.75 value degree seemingly serving as a springboard for the Buck’s bounce greater…