Macro theme:
- The dollar remained steady despite short-term volatility, reflecting mixed economic data. US Sep Retail Inventories and Oct Consumer Confidence exceeded forecasts, while Sep Job Openings fell short.
- Treasury yields reached multi-month highs early but declined following a strong seven-year auction.
- With the US job report—the last before the FOMC meeting—approaching, storms and strikes could complicate interpreting the data, introducing further uncertainty around the dollar’s direction.
Technical theme:
- DXY is consolidating in a small range at the top and looks stretched. This is vulnerable to a potential mean reversion. The price is trading away from both EMAs.
- If DXY extends its gain above the previous swing high at 104.60, the index may rise to 106.00 resistance.
- On the contrary, if DXY closes below 104.00 support, the index may decline to retest 103.45 support.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
- The dollar remained steady despite short-term volatility, reflecting mixed economic data. US Sep Retail Inventories and Oct Consumer Confidence exceeded forecasts, while Sep Job Openings fell short.
- Treasury yields reached multi-month highs early but declined following a strong seven-year auction.
- With the US job report—the last before the FOMC meeting—approaching, storms and strikes could complicate interpreting the data, introducing further uncertainty around the dollar’s direction.
Technical theme:
- DXY is consolidating in a small range at the top and looks stretched. This is vulnerable to a potential mean reversion. The price is trading away from both EMAs.
- If DXY extends its gain above the previous swing high at 104.60, the index may rise to 106.00 resistance.
- On the contrary, if DXY closes below 104.00 support, the index may decline to retest 103.45 support.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.