- Analytics
- News and Tools
- Market News
- USD Index: Soft close would imply a peak in the short run at least and greater downside risk – Scotiabank
USD Index: Soft close would imply a peak in the short run at least and greater downside risk – Scotiabank
The USD is trading lower. Economists at Scotiabank analyze US Dollar Index (DXY) technical outlook.
DXY is breaking below rising trend support that has guided the market higher through much of May
“USD losses are broad across the G10 FX space and while losses for the DXY do not appear that significant at this point, the index is down for a third session in a row and short-term trading patterns show the index is breaking below rising trend support that has guided the market higher through much of May.”
“A soft close on the day would imply a (technical) peak in the DXY in the short run at least and greater downside risk for the USD after its uninterrupted 3.5% run higher over the month.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
