HomeForex MarketEvery day Foreign exchange Information and Watchlist: U.S. Greenback Index (DXY)

Every day Foreign exchange Information and Watchlist: U.S. Greenback Index (DXY)

All of the lower-tier U.S. stories scheduled right this moment acquired me trying on the U.S. greenback index!

Suppose the Dollar will proceed to fall towards its main counterparts?

Earlier than shifting on, ICYMI, yesterday’s watchlist checked out CAD/JPY for retracement alternatives forward of Canada’s CPI launch. Make sure to take a look at if it’s nonetheless a sound play!

And now for the headlines that rocked the markets within the final buying and selling periods:

Recent Market Headlines & Financial Knowledge:

Canada’s inflation surges greater than anticipated, hitting a 31-year excessive of 6.7% in March

U.S. current house gross sales fall 2.7% in March as home costs attain all-time highs

EIA: U.S. crude stockpiles stoop as export surge to greater than 2-yr excessive

New Zealand inflation hits a 32-year excessive of 6.9%

Asia shares fall on China slowdown fears, however decrease yields restrict losses

Gold nudges decrease as U.S. bond yields resume cost

Closing Eurozone CPI readings at 9:00 am GMT
U.S. Philly Fed manufacturing index at 12:30 pm GMT
U.S. preliminary jobless claims at 12:30 pm GMT
Eurozone’s shopper confidence at 2:00 pm GMT
BOE Governor Bailey to provide a speech in DC at 4:30 pm GMT
Fed Chairman Powell and ECB President Lagarde to take part in a “Debate on the International Economic system” panel dialogue at 5:00 pm GMT
AU flash manufacturing and providers PMIs at 11:00 pm GMT
Japan’s nationwide core CPI at 11:30 pm GMT
Japan’s flash manufacturing PMI at 12:30 am GMT (Apr 22)

Use our new Forex Warmth Map to shortly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️

What to Watch: U.S. Greenback Index

U.S. Greenback Index 1-hour Chart

There aren’t loads of top-tier financial releases scheduled within the subsequent buying and selling periods, however a few U.S. financial stories may put the greenback beneath the highlight.

Philadelphia’s manufacturing index, for instance, is scheduled at 12:30 pm GMT similtaneously final week’s preliminary jobless claims numbers.

After which there’s Powell’s panel dialogue at an IMF occasion in D.C. Whereas there are not any bombshells anticipated, the Fed’s tightening schedule could also be put beneath the highlight and remind merchants that the Fed is likely one of the extra hawkish central banks on the market.

Will Powell’s speech assist the U.S. greenback index right this moment?

As you possibly can see, DXY has simply damaged a development line assist that sellers had been respecting because the begin of the month. Extra importantly, the final candlesticks are so bearish that we may even see continued promoting within the subsequent few hours.

Watch how the index reacts to the 100.00 psychological deal with or the 99.75 zone that represents a 100% Fibonacci extension of the index’s final main downswing.

If the index dips beneath 100.00 and breaks the 99.60 earlier assist zone, then we might see the greenback lose pips towards its higher-yielding counterparts.

But when DXY sees inexperienced sprouts within the subsequent buying and selling periods, then the greenback’s bullish traits might prolong throughout the board.



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