US Dollar Index (DXY) May Face Significant Drop. Important Level to Watch
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US Dollar Index drops to around 98.00 amid soft Fed outlook, attention on upcoming CPI
The US Dollar Index is facing difficulties due to recent weak economic indicators from the US. The CME FedWatch tool indicates that there’s about an 89% chance the market is expecting a Fed rate cut in September. Governor Michelle Bowman mentioned that it might be appropriate to implement three interest rate cuts this year. The […]
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 […]