top of page

Title: US Dollar Index appears capped around 94.00 ahead of data

Writer's picture: analysiswatchanalysiswatch

10/27/2021 7:04:28 AM GMT

By: AnalysisWatch



The greenback, when measured by the US Dollar Index (DXY), parts with part of the new development and gets back to the area of 93.80 midweek.


After two consecutive daily advances, the file now shows some weakness and blurs further Tuesday's spike to the space just above the 94.00 barrier.


The continuous automatic in the dollar came notwithstanding the move higher in US yields, especially in the front end, where the 2y methodologies the 0.50% measuring stick, levels last found in March 2020. The stomach of the bend, meanwhile, drifts around 1.61% and the long end stretches out the restorative drop to the 2.03% region.


Tuesday's surprisingly good outcomes from the Conference Board's Consumer Confidence gave additional legs to the greenback, supported the hopefulness around the monetary recuperation, and decreased expansion fears and theory about the beginning of the tightening system in the near term.


The record lost some ground following the absence of finish after Tuesday's outperforming of the 94.00 obstacle. The positive exhibition of US yields, steady Fedspeak about the beginning of the tightening system as right on time as November or December, and the developing probability that high expansion will persevere for a more drawn out timeframe all add to the dollar's inspirational perspective in the close to-medium term.


The key events in the United States this week are Durable Goods Orders, Advanced Trade Balance (Wednesday) – Flash Q3 GDP, Initial Claims, Pending Home Sales (Thursday) – PCE, Core PCE, Personal Income/Spending, and Final Consumer Sentiment (Friday).

0 views0 comments

Comments


2b94f773-a237-4da7-a599-6b42314ed9e6.png

Risk Disclosure: AnalysisWatch will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
AnalysisWatch would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore AnalysisWatch doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

bottom of page