The US Dollar (USD) measured by the US Dollar DXY Index trades with losses despite US Treasury yields recovering and a cautious market mood amid the M
US Dollar continues consolidating early October gains. Inflation in the United States is expected to have decelerated in September. Christopher Waller and Neel Kashkari will be on the wires. iddle East geopolitical conflict between Israel and the Hamas terrorist group. Investor’s focus is set on Wednesday’s Federal Open Market Committee from the September meeting and the Consumer Price Index from the same month.
The Relative Strength Index displays a negative slope near the 50 middle-point while the Moving Average Convergence Divergence stands in negative territory, indicating that the bears hold the upper hand in the short term. That being said, the index is comfortably above the 100 and 200-day Simple Moving Averages , indicating that the bulls command the broader scale. If they fail to defend the 20-day average at 105.90, more downside may be on the horizon, with support lining up at 105.50, 105.
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