DXY: Watching the upcoming data – OCBC
10.10.2024, 15:59

DXY: Watching the upcoming data – OCBC

The US Dollar (USD) inched higher overnight after FOMC minutes unveiled details of pushback at the September FOMC. DXY was last at 102.99, OCBC’s FX analysts Frances Cheung and Christopher Wong note.

Middle eastern tentions and US elections deserve monitoring

“On Fedspeaks, Daly said she expects 1 or 2 more cut this year while Collins said that 50bp cut in Sep was prudent given risks. Elsewhere, Logan said she supported a slower path of interest rate reduction. Dovish expectation on Fed cut have now been priced out. Markets are just eyeing about 45bp cut for the rest of the year, as opposed to 75bps cut seen just 2-3 weeks ago. Markets and Fed’s dot plot are now in alignment.”

“USD has also rebounded, partially retracing the earlier ~5% decline seen in 3Q. To some extent, USD may have settled into this temporal state of equilibrium where the risks from here can largely be 2-way. Daily momentum remains bullish but rise in RSI shows signs of moderation near overbought conditions. 2-way trades likely. Resistance here at 103.30 (100 DMA). Support at 101.75/90 levels (50 DMA, 23.6% fibo retracement of 2023 high to 2024 low), 101.30 (21 DMA).”

“Apart from US CPI, initial jobless claims (Thursday) and PPI (Friday), there is no clear major US data catalyst until the next payrolls or core PCE data in a few weeks’ time. In terms of event risks, geopolitical tensions in middle east and US elections deserve monitoring. Even at this point, Harris and Trump are polling neck-and-neck. Markets adopting a cautious stance ahead of US elections may imply that USD may still stay supported on dips.”

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

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.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik