Dollar clings to daily gains above 95.00

20 June, 2018

The index is up smalls above the key 95.00 handle. US 10-year yields flirting with highs near 2.91%. Chief J.Powell will speak at the ECB Forum later in the day.

The greenback, in terms of the US Dollar Index (DXY), is sticking to the positive territory so far today and so far manages well to keep the trade above 95.00 the figure.

US Dollar looks to tariffs, Powell

The index is up for the second session in a row on Wednesday, looking to add more sustainability to the recent breakout of the critical 95.00 milestone amidst rising concerns on the US-China trade front and a rebound in US yields.

In fact, the buck stays firm despite the ongoing escalation in the US-China trade dispute, although market participants remain wary on the potential announcement of further tariffs on US imports from China worth $200 billion.

In the meantime, yields of the key US 10-year note are testing t he area of daily highs in the 2.91% neighbourhood, coming up from yesterday’s lows around 2.85%.

Later in the day, Fed’s J.Powell will speak at a panel at the ECB Forum in Sintra (Portugal) along with ECB’s M.Draghi and BoJ’s H.Kuroda. in the data space, US Existing Home Sales for the month of May are due seconded by the EIA’s weekly report on US crude oil stockpiles.

US Dollar relevant levels

As of writing the index is up 0.11% at 95.11 facing the next hurdle at 95.30 (2018 high Jun.19) seconded by 96.00 (psychological level) and finally 96.51 (high Jul.4 2017). On the other hand, a breach of 94.54 (low Jun.19) would open the door to 94.24 (10-day sma) and then 94.16 (21-day sma).

Source link  
Gold surrenders weekly gains

Bulls fail to capitalize on the recent recovery move from over one-month lows. A goodish recovery in European equities dampens safe-haven demand. A modest USD

US Dollar Index challenges 96.00

The index comes under further selling pressure and tests the 96.00 handle. Yields of the US 10-year note ease from tops beyond 3.17%. US Non-farm...

Gold bounces off lows

Renewed trade-war fears push USD higher and prompt some fresh selling. Reviving safe-haven demand lends some support and helps limit downside. Fed...

GBP futures downside looks limited

In light of advanced data for GBP futures markets from CME Group, investors scaled back their open interest positions by almost 1.8K contracts on Thursday from...

Gold clocks 10-day highs near $1263

Technical correction extends above $ 1260 amid broad-based USD weakness. Lingering US-Sino trade tensions support, as the focus shifts to the US CPI...

Dollar holds below mid-94.00s

Lingering trade war fears keep the USD bulls on the defensive. Thin liquidity conditions also hold traders from placing aggressive bets. This week's important...

US Dollar rebounds beyond 94.80

The greenback bounces off lows, approaches 94.90. Yields of the US 10-year note remain sidelined so far. NAHB index came in below expectations in June...

WTI downside opening up to $69.50

Looks vulnerable amid OPEC, non-OPEC output lift talks, stronger USD adds to the weight. Technical set up also indicate further downside risks...

Gold climbs back closer to weekly tops

Dovish FOMC minutes prompt some USD profit-taking and help regain positive traction. Sliding US bond yields/cautious mood provides an additional boost...

In the past 24 hours Bitcoin has gained 0.36% and reached $4038.30548972. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.213% and is now at $1.1284. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 4.86% and is now at $139.612676992. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Forex Market Analysis

Forex Currencies Forecasts

Top 10 Forex Brokers 2019

# Broker Review
5FIBO GroupFIBO Group85%