US Dollar sees Monday’s gains under pressure DollarIndex Macroeconomics UnitedStates SEO
lower and pushing Crude Oil down to $71.
Fed’s Bullard will give a speech at the Barcelona School of Economics at 10:30 GMT, and both Fed’s Williams and Barr will speak on leadership at the NY Fed event at 15:45 GMT. China has cut both its 5-year and 1-year Loan Prime Rate from 4.3% to 4.2% and from 3.65% to 3.55%, respectively. The move was received with disappointment by markets.
Equities are also in the red, with China tech stocks leading the losses and the overall Hang Seng Index down 1.60%, which in turn drags other major Asian indices to the downside. European markets are taking over the negative sentiment from Asia and are trading in the red.US equity futures are on the downside as well.
On the upside, the 55-day Simple Moving Average at 102.57 has turned from support into resistance. Should the DXY recover further today or this week, look for the 103.00 psychological level as the next big challenge to the upside. The 100-day SMA at 103.05 will be key to reach, should the DXY want to advance further.
, in the open market to spur growth and QT is exactly the opposite. QE is widely seen as a USD-negative central bank policy action and vice versa.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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