The U.S. Dollar Index has shown little movement following the release of the Chicago PMI report. According to the report, the index declined from 55.8 in November to 46.9 in December. Despite this significant drop, the U.S. Dollar Index has not shown any major reaction. Traders are closely monitoring the index’s movement, particularly if it
In a recent development, the Federal Reserve Bank of New York reported a significant increase in inflows at its overnight reverse repo facility. This surge in liquidity comes as the year draws to a close and showcases the central bank’s efforts to manage short-term interest rates, thereby influencing economic outcomes. On the final trading day
The beginning of the year was tough for the Australian dollar, as it struggled to gain strength against major currencies. It encountered a significant hurdle at the 0.7150 region, where the 200-Week EMA loomed large. This resistance proved insurmountable, especially as the Federal Reserve began tightening its monetary policy. It’s no surprise that the US
The first trade idea for January is the EURUSD pair on the weekly timeframe. The original article suggests that EURUSD has reached a supply zone, indicating a potential fall in price. While the article mentions various confluences supporting this view, such as the 200-period moving average resistance and a resistance trendline, it fails to provide
Over the past month, there has been a flurry of data about the health of the U.S. economy and the state of price increases. Federal Reserve officials have interpreted this data as reassuring signs that their efforts to combat inflation have been successful and that a “soft landing” is within reach. This article will critically
The US Dollar has been holding steady as it enters the final day of trading for the year 2023. Looking back at its performance over the past year, the Greenback has experienced a modest 3% decline on the US Dollar Index (DXY) chart since January. As we move into 2024, the central question revolves around
The U.S. stock market is wrapping up a turbulent year on a positive note, as investors anticipate interest rate cuts by the Federal Reserve in the coming year. Both the benchmark S&P 500 and the Dow are hovering around record-highs, with the Nasdaq also edging closer to its one-year peak. This bullish sentiment comes as
USDCAD, the currency pair consisting of the US dollar and the Canadian dollar, is currently on the path to recovery after a significant decline in December. While positive momentum is gaining traction, it is still uncertain whether this is just a temporary respite or the beginning of a sustained rebound. After reaching a five-month low
The NZD/USD pair is showing signs of revisiting its five-month high at 0.6369, thanks to the positive sentiment in the market. The Kiwi Dollar is benefiting from the prevailing risk-on mood, while market participants anticipate a dovish stance from the Federal Reserve (Fed) due to lower US bond yields. Despite the pressure on US yields,
Vietnam’s economic growth has experienced a significant slowdown in 2023, dropping to 5.05% from 8.02% the previous year. This disappointing performance was influenced by weak global demand and a decline in public investment due to an intensified anti-graft campaign. The country’s export sector, which heavily contributes to its overall GDP, witnessed a decline of 4.4%
The Australian Dollar (AUD) has seen a fresh increase against the US Dollar (USD), moving above key resistance levels. On the hourly chart of AUD/USD at FXOpen, the pair started a positive move from the 0.6725 support. After clearing the 0.6760 resistance, the Aussie Dollar was able to enter a positive zone. It also closed
GBPUSD has recently reached a four-month peak of 1.2826, signaling a positive bias. The pair has been forming a profound structure of higher highs since breaking above a crucial descending trendline in early November. This rally may be short-lived, but the impending completion of a golden cross between the 50- and 200-day simple moving averages