EUR/USD 1.15610
0.327%
Gold 4343.88
2.439%
Oil 76.270
-1.423%
USD/JPY 157.556
-0.559%
GBP/USD 1.34972
0.326%
GBP/JPY 212.662
-0.239%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Houthi rebels in Yemen said they attacked Saudi Aramcos Jazan oil refinery.On August 9th, it was reported that Taylor Swift successfully secured the removal and muting of audio tracks from videos on TikTok by the Trump team that used her song "August" and other works without authorization. The Trump teams TikTok account had previously posted several videos using Taylor Swifts songs as background music. One video celebrating August used Swifts "August," showing Trump and First Lady Melania watching fireworks, with the caption jokingly stating, "Im sure Taylor Swift would be very happy we used her song." The audio from this video has since been removed from the platform due to copyright issues. Additionally, another video from the Trump team used Taylor Swifts song "Father Figure," which included footage of Trump with his son Barron and clips related to Trumps attempted shooting in 2024. This song is also currently unavailable.August 9th - The Reserve Bank of Australia (RBA) will announce its latest interest rate decision next Tuesday. The market widely expects the RBA to maintain the current interest rate, but its statement and forward guidance will be closely watched. Despite a slowdown in Australian inflation, the RBA remains vigilant about upside risks. The RBAs communication will have a key impact on market expectations for the remainder of the year, particularly regarding whether the next move will be a rate hike or a rate cut.HSBCs preview of the US July CPI: It is expected that several core inflation components will cool down more than expected, leading to both the overall CPI and core CPI falling short of market expectations.August 9th - The US CPI report, to be released next Wednesday, is undoubtedly the most closely watched data of the week. Economists generally expect the annual inflation rate to slow slightly, but core inflation is likely to remain high, reflecting persistent price pressures in the services and housing sectors. According to the latest data, the Federal Reserve remains cautious, emphasizing that it needs further assurance that inflation is sustainably approaching its 2% target before considering interest rate cuts.

Price Analysis of the US Dollar Index: DXY Retreats from 104.00, Rising Wedge Anticipated

Alina Haynes

May 12, 2022 10:27

During Thursday's Asian session, the US Dollar Index (DXY) fails to continue the previous two days' upward momentum, trading on the defensive around 103.95.

 

In doing so, the dollar index remains near the 20-year high reached earlier in the week, but for the first time in three days, the daily decline is recorded.

 

In addition to highlighting a 12-day-old rising wedge bearish pattern surrounding the multi-day top, the DXY's most recent decline also reveals a multi-day top-adjacent rising wedge formation. The slow RSI also highlights the significance of the chart pattern.

 

However, a decisive breach below 102.90 is required to validate the potential decline to 101.30.

 

During the fall, the 100-SMA and monthly low between 102.65 and 102.35 will serve as intermediate stops.

 

Until the quote continues below the indicated wedge's resistance line, approximately 104.30 as of press time, a recovery appears elusive.

 

After that, a slow climb to the September 2002 high of 109.80 cannot be ruled out.

Four-hour DXY chart

 image.png

Suggestion