US DOLLAR PRICE OUTLOOK: USD/CAD, GBP/USD, NZD/USD & USD/JPY IN FOCUS – USD IMPLIED VOLATILITY & TRADING RANGES TO WATCHT
US DOLLAR PRICE OUTLOOK: USD/CAD, GBP/USD, NZD/USD & USD/JPY IN FOCUS – USD IMPLIED VOLATILITY & TRADING RANGES TO WATCH
- The US Dollar edged marginally greater all through Tuesday’s buying and selling session because the DXY Index oscillates round a crucial technical degree
- The course of the US Greenback will doubtless shift focus to counterpart worth motion in mild of high-impact information releases scheduled for Wednesday on the foreign exchange economic calendar
- USD/CAD, GBP/USD and NZD/USD are anticipated to be essentially the most unstable main US Greenback forex pairs whereas USD/JPY eyes a BOJ rate of interest resolution
USD worth motion climbed modestly on Tuesday judging by efficiency within the benchmark US Greenback Index (DXY). The slight rise within the broader US Greenback might be attributed largely to better-than-expected financial information on US industrial manufacturing and housing.
Wanting forward, the US Greenback will doubtless take cue from its main counterparts such because the Canadian Dollar (CAD), Pound Sterling (GBP) and New Zealand Dollar (NZD) contemplating occasion threat slated for Wednesday.
US DOLLAR INDEX PRICE CHART: DAILY TIME FRAME (JULY 2019 TO DECEMBER 2019)
Chart created by @RichDvorakFX with TradingView
The US Greenback Index has begun to indicate indicators of perking up following its sharp slide to begin December. Technical assist at present resides across the 96.50-96.75 worth zone, which…