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U.S. Dollar Index (USDX) The U.S. dollar hit a one-month high versus its major peers this morning as Fed officials continued to mention the need for further interest rate hikes. Meanwhile, the dollar index rose 0.14% to 107.63, after touching 107.72 which is its highest since July 18. The index is on track for aContinue Reading
U.S. Dollar Index (USDX) The dollar index rose after the minutes, as did Treasury yields. The Fed hiked rates by 0.75% last month, with traders now split over a 0.5% or 0.75% hike in September. While data last week did show that U.S. inflation had likely peaked, Fed members indicated that it was still farContinue Reading
U.S. Dollar Index (USDX) The dollar index traded the majority of the morning sessions below the resistance at 106.50 and slightly above the hourly chart support at 106.30. However, the hourly chart shows a continuation of the uptrend started on August 11 from the previously analyzed double bottom pattern. Meanwhile, on the daily chart, theContinue Reading
U.S. Dollar Index (USDX) The dollar index, which measures the greenback against six major peers, held steady at 106.51, just below the previous session’s peak of 106.55, the strongest since last week. The global safety bid was driven by a group of weak world economic indicators. Data showed U.S. single-family homebuilders’ confidence, while New YorkContinue Reading
Investors tend to avoid risk this week and prior to the housing data and retail earnings in the U.S. which is expected to slow down. However, spot gold continued the gains trading near 1,800 as recessionary fears still rising amid mixed economic data in the U.S. Crude prices decline confirmed the declining trend today asContinue Reading
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