|Day's Range||97.82 - 98.24|
|52 Week Range||93.81 - 98.93|
Based on Friday’s price action and the close at 98.007, the direction of the September U.S. Dollar Index on Monday is likely to be determined by trader reaction to the short-term Fibonacci level at 98.045.
The main trend is up according to the daily swing chart. A trade through 98.700 will signal a resumption of the uptrend. A move through 96.980 will change the main trend to down.
In the USD Index, the bulls continued to take over the bears even today. Interim, rising odds for a no-deal Brexit was making the Cable traders upset.
The S&P500; stabilised on Thursday, finishing the session up 0.2%. Better-than-expected US data (retail sales, Empire State, and Philly fed) probably helped sentiment in US stock markets, though it seems to have been largely ignored by the bond market. Bond markets continue to scream at the Fed supported by President Trump who continues to muscle Powell lower ” we don’t care about the data if you don’t cut rates you are making a huge policy mistake” ahead of the annual central bank soiree in Jackson Hole Wyoming. From a risk sentiment perspective, the Fed has no other option than to comply with the market’s pricing for fear of a total risk meltdown.
After marking the day’s opening near 105.89 level, the Ninja showcased a pretty decent performance on Thursday. Greenback continued to sustain positive price actions even today.
Based on the early price action, the direction of the index the rest of the session is likely to be determined by trader reaction to the short-term 50% level at 97.840.
Based on today’s price action and the current price at 97.83, the direction of the September U.S. Dollar Index into the close is likely to be determined by trader reaction to the short-term 50% level at 97.840.
Based on the early price action and the current price at 97.615, the direction of the September U.S. Dollar Index on Wednesday is likely to be determined by trader reaction to the intermediate 50% level at 97.510.
Trump extends China an olive branch in a bid to support retailers over the Christmas period. China needs to ramp up agri imports to ease tensions further.
After three adverse closings in a row, the Greenback was underway a positive closing today. After touching the 7.0707 mark yesterday, the USD/CNY pair was heading downside on Tuesday.
XAU/USD jumped to trade as high as 1,535 on Tuesday, its highest level since April 2013. But, US CPI is pushing prices down, and it is currently trading at 1,521, 0.66% positive on the day.
Based on today’s price action and the current price at 97.255, the direction of the September U.S. Dollar Index into the close is likely to be determined by trader reaction to the intermediate Fibonacci level at 97.230.
Geopolitical risk has been on the rise and looks to be here for the foreseeable future. With it comes volatility that could build further…
While there are no stats due out today, the markets will continue to be sensitive to any trade war chatter. There’s also Italy to factor in.
Based on Friday’s price action and the current price at 97.320, the direction of the September U.S. Dollar Index into the close is likely to be determined by trader reaction to the 50% level at 97.510 and the 61.8% level at 97.230. Inside this zone is a pair of Gann angles at 97.32 and 97.43. The index has been bouncing around this angles all session.
And even worse, experts are now asking themselves how U.S. President Donald Trump will answer to China Yuan depreciation. Think twice, a sanguine temperament person who always wants to looks like the winner.
Looking at the day ahead, it’s a busy day for the Pound, with a heavy economic calendar to provide direction. Geopolitics will also remain in focus.
Even today, the sturdy 97.60 resistance handle continued to cap Greenback’s daily gains. ECB mentioned in today’s Economic Bulletin that the US-China trade war would affect the growth of Eurozone.
Based on the early price action and the current price at 97.475, the direction of the September U.S. Dollar index the rest of the session is likely to be determined by trader reaction to the intermediate 50% level at 97.510 and the intermediate Fibonacci level at 97.230. Inside this zone are three Gann angles at 97.260, 97.365 and 97.450. Holding inside this zone is likely to lead to a choppy two-sided trade.
The data helped stabilize bond yields and, for instance, metal prices such as gold and silver, which are trading in a consolidation pattern.
The 10-year-yield is back above 1.5% Friday, but it fell below that mark Thursday for the first time since 2016. Gennadiy Goldberg, TD Securities USA Senior US Rates Strategist, joins Yahoo Finance's The First Trade to discuss that. He also weighs in on what we can expect from the FED's Jackson Hole Symposium.
Investors are looking for stability after one of Wall Street's most volatile weeks. Rebecca Walser, president of Walser Weath Management, joins Yahoo Finance to discuss what to expect, especially after President Trump suggested a planned meeting between U.S. and Chinese officials next month may not happen, the possibility of a recession, and more.