Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
$DXY not far from its firmest mark since November 2022 https://t.co/cN7fjhlTIp
Looks like it's gonna give another stab at that weekly resistance $dxy https://t.co/hhUbCre7HP
Bearish engulfing candle on $DXY to start the week. Going to be a lot of focus on the (expected) weakness in core PCE, and the implications for the Fed, before the release on Friday #forex #FX https://t.co/fhupaMBMp4
The U.S. Dollar Index ($DXY) is experiencing a downward trend, highlighted by a bearish engulfing candle at the start of the week. Market analysts are focusing on the anticipated weakness in core Personal Consumption Expenditures (PCE) and its implications for the Federal Reserve's policy decisions ahead of the PCE release on Friday. Despite recent declines, $DXY is not far from its highest level since November 2022. Traders are also noting technical indicators such as the third red dot and red line on the 4-hour chart, suggesting further bearish momentum. Additionally, $DXY is attempting to break through weekly resistance.
