Posts Tagged ‘US Dollar Index’

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US Dollar Index Forecast — July 13th 2020

In this video, the Trader Guy looks at the US dollar index forecast for the  July 13th session. US dollar index — The dollar index bounced on Friday to show signs of support. But it needs to clear resistance at 97.00 and could move towards the top of the range at 98.00. But the downside looks more likely at the moment. So, you can expect selling pressure towards the 96.00 level. A break below this level […]

How to Use Dollar Index to Trade Forex | US Dollar Index Chart

In this video, you will understand how to gauge the market using the US dollar index. The US dollar index consists of a set of currencies with the US dollar as the counterpart. It shows whether the greenback is gaining or losing against these currencies. For example, look at these two charts, shown side by side for comparison. On the left side, you have the dollar index. On the right side, you have the EUR/USD chart. As you can […]

USDX Cannot Recover

The greenback has managed to make some gains. However, it is under bearish pressure due to the macroeconomic data released. The US dollar index is trading at 97.10. The USD/JPY pair is trading at 113.05. The PMI report for China, released from Caixin indicates a positive reading, which was more than expected. However, the Aussie has failed to gain from this data. So, it fell to 0.7300. The GDP data […]

FOMC Assembling for Policy Meeting

As a Fed meeting scheduled for tomorrow, it provided support for the US dollar index. Market participants anticipate a rate hike from the Federal Reserve. With the ongoing trade war and trade negotiations between the US and China, the investors have chosen to take a careful approach to trading in the markets, when it comes to taking long positions in the greenback. Due to the punishing trade tariffs from the US, China has called off the trade negotiations with […]

Investors Braced for New Tariffs on China

Last Friday saw the market close with a positive sentiment for the US dollar. This week has opened with the consolidation for the greenback The US dollar index is trading at around 95.00. The index strengthened due to the positive comments from the members of the FOMC. The meeting concluded favoring a monetary tightening in September. For 2019, nearly 4 rate hikes are expected. The central bank expressed a hawkish stance, which has contributed to the value of the US […]

European Currencies Fall While USD Trading at Highs

The US dollar was in high demand on Tuesday while the European assets returned to recent lows, trading with bearish bias. The EUR/USD pair approached the level of 1.1550 after hovering above the psychological level of 1.16 for a rather long time. The euro and other trading assets still lack momentum against the stronger greenback. Macroeconomic reports fail to provide support to the euro. The British pound is also trading lower. The GBP/USD pair touched […]

USD Falling amid Empty Economic Calendar

The US dollar sank to a 3-week low against a basket of its rivals. Demand for the US currency is declining after the news on the revision of the North American Free Trade Agreement. The US and Mexico have come to a common denominator on new terms of the bilateral trade deal, which is likely to be finalized in November. Canada has not taken part in the discussion. Today, Canada's officials are arriving in the US to continue the trade talks. Experts […]

USD Strength Weakens in Wall Street Trade

The US currency has been weighed down by the speech of Jerome Powell on Friday. The US dollar was trading slightly lower on Monday. The US stock market opened in the green. Speaking at the annual symposium in Jackson Hole, the Fed's leader highlighted healthy economic conditions in the country and steady inflation growth. Thus, he signaled the central bank's intention to continue monetary tightening, but at a gradual pace. As a result, US stock benchmark indices picked […]

Symposium in Jackson Hole Starts, Traders Wait for Results

The US dollar barely changed at the opening of the American session. Market participants are waiting for Jerome Powell's speech. The US dollar index added over 30 pips, approaching the level of 95.40. However, it remained under pressure. Even strong jobs data was not able to provide support to the greenback. The US Department of Labor reported that the number of people who applied for unemployment benefits decreased to 210,000, while experts predicted […]

Trump Statement Can Crash USD

Donald Trump gave his viewpoint on the strength of the US dollar and again targeted the Federal Reserve. Demand for the US dollar decreased after US President Donald Trump criticized Fed's Chairman Jerome Powell in an interview with Reuters. The President is not pleased with Powell's intention to pursue the hawkish monetary policy. Interestingly, last year Donald Trump appointed Powell as the central bank's leader. Market participants expect the Fed's leader […]

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