US Greenback (DXY) Posts a Recent 16-Month Excessive Forward of a Cluster of Fed Audio system

US Dollar Worth, Chart, and Evaluation

  • US greenback basket spikes above 96.00.
  • A number of Fed audio system on the docket.

The yield on the benchmark US 10-year US Treasury is at present testing a contemporary one-month excessive round 1.65% with merchants eyeing the mid-March 1.73% yield stage as the following goal. Whereas the newest transfer increased in yields could have to be consolidated to maneuver DXY out of closely overbought territory – see beneath – the medium-term outlook for the greenback stays constructive.

The energy of the dollar is seen throughout a variety of USD-pairs, notably the Euro and the Japanese Yen. EUR/USD not too long ago posted a brand new 16-month low, whereas USD/JPY this week hit a excessive not seen since March 2017.

Euro (EUR) Price Outlook: No End Yet in Sight for EUR/USD Weakness

IG sentiment knowledge present how retail shoppers are at present positioned and the way these positions have modified over the previous week.

A take a look at at the moment’s DailyFX Calendar exhibits seven Fed audio system on faucet later within the session with extra to observe throughout the remainder of the week. Okeep updated with all market-moving knowledge releases, occasions, and speeches by utilizing the DailyFX Calendar

Right now’s Fed Audio system – November 17, 2021

US Dollar (DXY) Posts a Fresh 16-Month High Ahead of a Cluster of Fed Speakers

A take a look at the each day US greenback basket chart exhibits DXY sitting in closely overbought territory – utilizing the CCI indicator on the backside of the chart – after the sharp advance within the dollar over the previous few days. The USD has made a powerful break above pattern resistance and is over 2 massive figures increased since final Wednesday. The weak point within the Euro – the only foreign money has a 57%+ weighting within the US greenback basket – has helped the transfer, however the dollar stays sturdy in its personal proper with the macro backdrop of hovering inflation underpinning the transfer increased. There may be more likely to be a interval of consolidation within the short-term however with so many Fed audio system on the slate, any hawkish twists may see the dollar try one other leg increased.

US Greenback (DXY)Every day Worth Chart November 17, 2021

US Dollar (DXY) Posts a Fresh 16-Month High Ahead of a Cluster of Fed Speakers

What’s your view on the US Greenback – bullish or bearish?? You possibly can tell us through the shape on the finish of this piece or you’ll be able to contact the creator through Twitter @nickcawley1.

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