US Dollar Index Price Prediction: Approaches 98.00 support before US Initial Jobless Claims
US Dollar Index may encounter significant resistance at 98.54 50-day EMA Short-term price momentum is faltering as DXY trades below the nine-day EMA. Immediate support seems to rest at the lower boundary of 97.70 within the rising channel. The US Dollar Index (DXY), which gauges the dollar’s value against six major currencies, has continued to […]
US Dollar Index holds steady above 98.00 as speculation around Fed Chair grows
The US dollar index shows some changes after losing over 0.5% on Wednesday. Trump is considering Kevin Hassett, former Fed Governor Kevin Wahsh, and a couple of others for the role of Fed Chairman. The CME FedWatch tool indicates a nearly 95% likelihood of a 25-basis point reduction in the Fed rate this September. The […]
US Dollar Index (DXY) moves down to 98.50 as uncertainty surrounds the next Fed Chair
The dollar continued to decline on Wednesday, as focus shifted to potential candidates for Fed Chairman. Trump is likely to nominate someone aligned with his agenda, which seeks broader support for lower fees. Weak US economic data has reignited concerns about stagflation. On Wednesday, the US dollar was trading lower, influenced by recent macroeconomic data […]
US Dollar Index shows slight increases above 98.50 as traders look forward to the new Fed Governor.
The US Dollar index is expected to hold around 98.80 during Wednesday’s Asian trading session. Trump has taken Scott Bescent off his list of nominees and will announce a new Federal Reserve Chairman soon. Traders are likely to anticipate a Federal Reserve rate cut in the near future. The US Dollar Index (DXY), which measures […]
US Dollar Index steadies above 98.50 as US PMI signals show mixed results
The US dollar index has stabilized above 98.50 after bouncing back from a drop following the non-farm payroll report last Friday. S&P Global Composite and Services PMIs exceeded expectations, indicating ongoing strength in the private sector. The ISM Services PMI dipped to 50.1, showing signs of weaker demand and employment than anticipated. The US Dollar […]
US Dollar Index stays above 98.50, worries increase as Trump dismisses BLS Commissioner
The US dollar index makes a comeback after dipping nearly 1.5% on Friday. The recent US employment report has raised the likelihood of two Federal Reserve interest rate cuts. The spotlight is on the Trump administration’s rejection of BLS commissioner Erica Mantelfer following disappointing employment figures. The US Dollar Index (DXY), which evaluates the value […]
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US Dollar Index stays under 99.00 before Fed policy meeting
The US Dollar Index’s Streak Comes to an End The US Dollar index will halt its winning streak ahead of the Fed rate decision. The Fed is expected to not change its benchmark interest rates in July. US Treasury Secretary Scott Bescent said the US and China will continue to talks on maintaining the tariff […]
US Dollar Index rises to over 97.50 following varied US economic data
The US dollar index is expected to reach around 97.55 during Friday’s Asian session. The US Flash Manufacturing PMI decreased to 49.5 in July, while the Service PMI increased to 55.2 within the same timeframe. Attention is focused on the upcoming US-China trade discussions and the FOMC policy meeting next week. The US Dollar Index […]
US Dollar Index drops closer to 97.00 as traders evaluate new trade agreement
During the early trading hours in Asia on Thursday, the US dollar index dipped to around 97.15. Bessent indicated that a new candidate for the Federal Reserve president may be announced in December or January. Investors are anticipating upcoming discussions on US-China trade next week. The US Dollar Index (DXY), which reflects the value of […]