Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
US Dollar Index Price Forecast: Bears prevail with the 200-day SMA capping ralliesÂ
The US Dollar (USD) nurses marginal gains on Wednesday and holds a mild recovery attempt from the three-month highs hit last week, but seems unable to extend gains past the 200-day Simple Moving Average (SMA), just above 99.00, which keeps the broader bearish structure intact.
US Dollar: Buyback impact stays marginal – BNY
BNY’s Geoff Yu notes that U.S. cross‑border exposures have stabilized, with Dollar FX hedges broadly unchanged and U.S. equity holdings recovering as risk sentiment improves.
US Dollar: Core PCE and Warsh remarks in focus – OCBC
OCBC Bank strategists Sim Moh Siong and Christopher Wong highlight that lower energy prices have helped pull US and European yields down, supporting a more benign macro backdrop without stoking USD debasement fears.
United States Dollar Index recovers to near 99.00 ahead of US PCE inflation data
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.00 in the early European trading hours on Wednesday.
The US Dollar Index stops paying for hawks who cannot vote
A non-voting regional Federal Reserve president published a conditional hold on Tuesday, tying the current target range to continued evidence that inflation is actually coming down, and the Dollar Index has not moved for it.
Forex Today: US Dollar stays on the back foot ahead of PCE
The US Dollar Index (DXY) is hovering below the 99.00 mark as traders squared positions ahead of a heavy Wednesday data slate and Federal Reserve (Fed) Chair Kevin Warsh's Jackson Hole address on Friday.
Dow Jones Industrial Average round-trips between Ottawa and the Treasury
The Dow Jones Industrial Average has built a 300-point advance and handed every point of it back inside a single vertical break, and it trades just beneath 53,500 for a gain of roughly a tenth of a percent. The session range runs better than 320 points against a net of 67.
US Dollar: Credibility risks for USD – TD Securities
TD Securities argues that Jackson Hole is more about Federal Reserve (Fed) credibility than new guidance for the US Dollar (USD). They see rate expectations staying anchored, but warn that any failure by Chair Warsh to reaffirm the inflation mandate could weigh on USD.
US CB Consumer Confidence Index eases to 89.4 in August
US consumer sentiment loses some momentum in August, as the Conference Board’s Consumer Confidence Index recedes to 89.4 from July’s 90.2 (revised from 90.8).
US Dollar: Bond market supports cautious consolidation – ING
ING’s Francesco Pesole notes the Dollar is drawing support from the US bond market as long-dated yields stabilise, while US-Canada trade tensions and Iran-related sanctions risks complicate the outlook.
US ADP Employment Change 4-week average increases to 11.750K
Private-sector hiring in the US has gained some pace in early August. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 11.750K jobs per week in the four weeks ending August 8.
US Dollar: Fragmentation risks and reserve diversification – MUFG
Michael Wan at MUFG discusses US threats of economic punishment on countries dealing with Iran and new sanctions on over 60 entities.
Euro: Recovery against US Dollar supported by data – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports EUR/USD is firmer but still below 1.1700 as Germany’s IFO survey rises to a one-year high, echoing Eurozone PMI and ZEW improvements.