USD index range possibly narrowing in near term
The USD index is currently ranging in between 90.0 and 93.0 and has been for the past six months. Moving forward, the adequate economic data coming from the US should help the weak Dollar regain some of its status, but not a ton. I expect the range to narrow, with the 91.5 level serving as a new support level.
USD index range possibly narrowing in near term
The USD index is currently ranging in between 90.0 and 93.0 and has been for the past six months. Moving forward, the adequate economic data coming from the US should help the weak Dollar regain some of its status, but not a ton. I expect the range to narrow, with the 91.5 level serving as a new support level.
Markets are Frothy
Here’s an interesting juxtaposition. There are currently just over 25 Million Currently Infected Patients of Covid-19, with 2.4 million deaths*. However,
· Tesla is up nearly 2,000% since the start of 2019. A luxury electric car company whose slim profit can be primarily contributed to government credits is worth more than Facebook.
· WTI, whose price turned negative in March, is now sitting at $60 a barrel, pre-pandemic high
· Bitcoin is nearing the 50,000 Mark
Markets are Frothy
Here’s an interesting juxtaposition. There are currently just over 25 Million Currently Infected Patients of Covid-19, with 2.4 million deaths*. However,
· Tesla is up nearly 2,000% since the start of 2019. A luxury electric car company whose slim profit can be primarily contributed to government credits is worth more than Facebook.
· WTI, whose price turned negative in March, is now sitting at $60 a barrel, pre-pandemic high
· Bitcoin is nearing the 50,000 Mark
U.S Dollar Strength: Temporary, or a long-term trend?
The Dollar Index (DXY) has been positive going into 2021, returning just under 2% year to date. Goldman Sachs. With Goldman Sachs and other large institutions touting their bearish views due to Joe Biden’s stimulus, low-interest rates and an appetite for Gold, the recent strength in the dollar has tested their analysis.
U.S Dollar Strength: Temporary, or a long-term trend?
The Dollar Index (DXY) has been positive going into 2021, returning just under 2% year to date. Goldman Sachs. With Goldman Sachs and other large institutions touting their bearish views due to Joe Biden’s stimulus, low-interest rates and an appetite for Gold, the recent strength in the dollar has tested their analysis.
EUR/USD Licks 1.20 as trading month closes
EUR/USD hit 1.20 on the last trading day before bouncing off the strong psychological resistance level. This is due to further dollar weakness alongside investors pricing in aggressive quantitative easing from the Fed outpacing the European Central bank. The EUR/USD is up around 2.3% this month.
EUR/USD Licks 1.20 as trading month closes
EUR/USD hit 1.20 on the last trading day before bouncing off the strong psychological resistance level. This is due to further dollar weakness alongside investors pricing in aggressive quantitative easing from the Fed outpacing the European Central bank. The EUR/USD is up around 2.3% this month.
Pound struggling to lift itself past 1.30
The Pound against the US Dollar is currently one of the most exciting pairs to be keeping an eye on, as it is essentially fighting between a rock and a hard place. Currently ranging just under 1.30, both nations have events coming up that will significantly shift the currency pair in either direction.
Pound struggling to lift itself past 1.30
The Pound against the US Dollar is currently one of the most exciting pairs to be keeping an eye on, as it is essentially fighting between a rock and a hard place. Currently ranging just under 1.30, both nations have events coming up that will significantly shift the currency pair in either direction.
