DXY: Stays bid on the day – OCBC

Source Fxstreet

The US Dollar (USD) continued its march higher. As Trump nomination started to make its way to newswires, markets are also starting to adjust their expectations, believing that Trump may hit the ground running in Jan 2025, unlike in 2016 when he was less prepared. DXY was last at 105.95 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong notes.

Trump policy uncertainty to keep USD supported on dips

This is helping to lend a boost to Trump trade (i.e. long USD, short CNH). Elsewhere, USD’s move higher was also likely in anticipation of Fedspeaks (Powell speaks on Fri morning), US data (CPI tonight and PPI tomorrow). Consensus expects core CPI to hold steady at 3.3% while headline CPI may come in higher at 2.6%. The uptick may raise doubts if Fed will still cut rates in Dec, adding to USD upward pressure.

“Tariff risk and Trump policy uncertainty may continue to keep USD supported on dips. Daily momentum is bullish while RSI rose. Near term risks skewed to the upside. Resistance here at 106.20, 106.50 levels (2024 high). Support at 104.60 (61.8% fibo), 103.70/80 levels (200 DMAs, 50% fibo retracement of 2023 high to 2024 low).”

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
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
Author  FXStreet
Jul 01, Mon
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
placeholder
Microstrategy outperforms Warren Buffet’s Berkshire Hathaway by the largest margin since the dot-com bubbleMichael Saylor’s Microstrategy is outperforming Warren Buffet’s Berkshire Hathaway by the largest margin. The software company has surged by 2,295.74% since August, when it first bought its Bitcoin holdings, while Berkshire Hathaway has surged by 36.02% in the same duration.
Author  Cryptopolitan
Nov 18, Mon
Michael Saylor’s Microstrategy is outperforming Warren Buffet’s Berkshire Hathaway by the largest margin. The software company has surged by 2,295.74% since August, when it first bought its Bitcoin holdings, while Berkshire Hathaway has surged by 36.02% in the same duration.
placeholder
XRP Gains Momentum: Whale Activity Points To $15 BreakthroughXRP is gaining prominence in the cryptocurrency market, propelled by a substantial purchasing surge from major investors referred to as whales. Related Reading: Upbit Listing Sends BONK Skyrocketing
Author  NewsBTC
Yesterday 02: 44
XRP is gaining prominence in the cryptocurrency market, propelled by a substantial purchasing surge from major investors referred to as whales. Related Reading: Upbit Listing Sends BONK Skyrocketing
placeholder
Microsoft’s LinkedIn lays off 200 employees- The InformationInvesting.com-- LinkendIn laid off about 200 employees over the past two weeks, The Information reported on Thursday, with the cuts happening within the engineering and customer support departments.
Author  Investing.com
Yesterday 11: 33
Investing.com-- LinkendIn laid off about 200 employees over the past two weeks, The Information reported on Thursday, with the cuts happening within the engineering and customer support departments.
placeholder
FTT Surges 36% as FTX Unveils Bold Reorganization PlanFTT, the native token of the bankrupt cryptocurrency exchange FTX, has experienced a 36% price surge in the past 24 hours. It now trades at a monthly high of $2.61. It currently ranks as the top gainer among the top 100 crypto assets.
Author  Beincrypto
Yesterday 11: 34
FTT, the native token of the bankrupt cryptocurrency exchange FTX, has experienced a 36% price surge in the past 24 hours. It now trades at a monthly high of $2.61. It currently ranks as the top gainer among the top 100 crypto assets.
Related Instrument
goTop
quote