Energies
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Markets Patiently Await the PCE Data
U.S. Dollar Index (USDX) The dollar index and dollar index futures fell 0.3% each on Thursday, with the focus now turning to revised U.S. GDP data for the third quarter, and more importantly, the personal consumption expenditure price index reading for November. The PCE index is the Federal Reserve’s preferred inflation gauge and is expectedContinue Reading
Bank of Japan Switch Gear to Tight Policy
U.S. Dollar Index (USDX) The dollar index was 0.154% higher at 104.110, having slipped 0.6% on Tuesday. The index is heading for its biggest quarterly loss in nearly 12 years. Meanwhile, the daily chart is also showing a declining pattern as RSI is closing to 30 and the MACD shows more divergence. However, the supportContinue Reading
Japanese Yen is Ending the Year With Action
U.S. Dollar Index (USDX) The U.S. dollar index sank though, dropping 0.31% to 104.30, bringing it back to the middle of its trading range this month of 103.44-105.90. The greenback traded steady this week after recovering sharply from a five-month low hit earlier, while 10-year U.S. Treasury yields firmed for a third consecutive session. Meanwhile,Continue Reading
Japanese Yen Might Reclaim Some Glory
U.S. Dollar Index (USDX) The dollar index retreated this morning amid rising recessionary fears after the last Fed hike last week. Market participants believe inflation is peaking and the recession is one step away. Meanwhile, Federal Reserve Chairman mentioned that interest rates will remain higher for longer than anticipated. On the hourly chart, the indexContinue Reading
Markets are Almost Flat After Central Banks’ Decisions
U.S. Dollar Index (USDX) The greenback lost 0.12% to 104.00 during the morning trades as traders continued to recap the implications of the Fed’s continued monetary tightening. The daily chart’s overall trend remains negative and targets the support at 103.00. However, the technical indicators show fluctuations with a heavy selling pressure build-up. Pivot Point: 103.90Continue Reading
