- Analytics
- News and Tools
- Market News
- US Dollar Index: Broader price trends still lean bearish – Scotiabank
US Dollar Index: Broader price trends still lean bearish – Scotiabank
USD retains a weak undertone. Economists at Scotiabank analyze Greenback’s outlook.
DXY pressures consolidation base
Even with the risk aversion-led lift for the USD on Wednesday, the DXY was unable to break out of its week-long consolidation range and broader price trends still lean bearish for the US Dollar Index.
Note that the DXY is pressuring consolidation support in the low 102 area today.
Recall that US equity market outperformance through December rather suggests that passive hedge rebalancing flows will run against the USD through month end; while markets look relatively calm and trade flows appear to be thinning out, there may still be motivation to push spot rates around after all.
© 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
