DXY fully retraced 3Q’s decline – DBS
Source Fxstreet
The Dollar Index (DXY) powered higher for a third session to 106, fully retracing its third-quarter decline, DBS’ Senior FX Strategist Philip Wee notes.
Strong USD getting expensive
“Several exchange rates in the DXY basket are near critical levels. EUR/USD bounced off April’s low of 1.06 overnight. GBP/USD fell below 1.28 to 1.2748, near August’s low of 1.2665.”
“The weaker European currencies pushed USD/CHF above 0.88 this week for the first time since late July. USD/JPY is near the psychological 155 level. USD/CAD’s rise stalled at a new year’s high of around 1.3970 this month.”
“Per the 14-day RSI, DXY appears overbought, and many currencies oversold from the Trump Trade.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As one of the most traded currency pair in the forex markets, the price of EURUSD affects many traders. Check out our EURUSD long-term forecast for more information.
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Gold price sticks to gains above $2,600 amid some repositioning ahead of US CPIGold price (XAU/USD) attracts some buyers during the Asian session on Wednesday and for now, seems to have snapped a three-day losing streak to its lowest level since September 20, around the $2,590-$2,589 region touched the previous day.
Gold price (XAU/USD) attracts some buyers during the Asian session on Wednesday and for now, seems to have snapped a three-day losing streak to its lowest level since September 20, around the $2,590-$2,589 region touched the previous day.
Gold (XAU/USD) trades just above $2,600 on Wednesday after the precious metal’s November sell-off to seven-week lows found technical support at a major trendline.
Insights — On November 15, Alibaba (BABA) will report its fiscal Q2 2025 earnings for the period ending September 30, 2024.
Related Instrument
