- Analytics
- News and Tools
- Market News
- DXY: Break above 106.80 to open up a return towards 108 – SocGen
DXY: Break above 106.80 to open up a return towards 108 – SocGen
The US Dollar Index closed September and Q3 off highs after profit-taking on Friday. Economists at Société Générale analyze DXY outlook.
Dollar dips look set to continue to attract buying interest
A return above 106.80 potentially sets up the DXY for a return towards 108 and the highs of late November last year.
Underwhelming US ISM and NFP data, and/or FX intervention by the BoJ (selling USD) would thwart the upward trend.
Dollar dips look set to continue to attract buying interest as investors respond to the bear steepening of the 2s/10s Treasury curve. The spread moved through -50 bps in September. The March low of around -40 bps is key resistance.
© 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
