The US Dollar Index (DXY) is currently trading near 105, reflecting mild losses in Monday’s session.
Market interpretation of Powell's words indicates caution due to unpredictability of inflation trajectory. Friday’s Nonfarm Payrolls report showed a slowdown in annual wage inflation, fuelling predictions for imminent Fed rate cuts. NFP report also shows that job creation decelerated while unemployment rose. The US Dollar Index is currently trading near 105, reflecting mild losses in Monday’s session.
Yet, it has temporarily fallen below the 20-day SMA, further emphasizing bearish short-term momentum. In conclusion, the short-term technical outlook of DXY is bear-dominated, given the recent sell-offs and technical configurations. However, its position above the 100 and 200-day SMA underlines that the longer-term bullish momentum still has the potential to resume.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
EUR/USD advances to 1.0750 as US Dollar drops ahead of US NFPEUR/USD advances to 1.0740 in Friday’s European session. The major currency pair strengthens as the US Dollar (USD) is under pressure due to weak Q1 Nonfarm productivity growth and as the Federal Reserve (Fed) delivered less hawkish guidance on interest rates than feared.
Lire la suite »
US Dollar Tanks Ahead of Fed Verdict, NFP Data - EUR/USD, GBP/USD, USD/CADThis article explores the fundamental and the technical outlook for the U.S. dollar, zeroing in on three popular and very liquid pairs: EUR/USD, GBP/USD and USD/CAD.
Lire la suite »
Gold price rebounds on downbeat NFP data, softer US DollarGold price (XAU/USD) snaps the two-day losing streak during the Asian session on Monday.
Lire la suite »
Canadian Dollar tumbles after US NFP drives marketsThe Canadian Dollar (CAD) fell across the board on Friday after US Nonfarm Payrolls (NFP) and wage data gave a wide miss on forecasts, sending the Canadian Dollar into the low end after an early spark.
Lire la suite »
US Dollar Forecast: Focus Shifts from Risk Rally to the Fed, NFPUS PCE data provided the catalyst to help the dollar end the week flat. Will concerns around re-accelerating inflation emerge in the FOMC statement, buoying USD?
Lire la suite »
Dollar Index in view ahead of dataAhead of this week’s US GDP first estimate print and the PCE Price Index numbers, the US Dollar Index will likely be a watched market.
Lire la suite »