<h1>US Doller Index Analysis</h1>&nbsp;<h2>Key Points: -</h2>&nbsp;<ul><li>The US Dollar Index pulls back from its intraday high and reverses its corrective bounce after reaching the lowest level since April 2022.</li><li>The positive aspects of US Retail Sales growth provide support to the US Dollar Index at its multi-month low.</li><li>Speculation that the Federal Reserve's rate hike in July could be the last, combined with the prevailing risk-on sentiment, puts downward pressure on the greenback.</li></ul>&nbsp;<h2>Today's Scenario: - </h2>&nbsp;The US Dollar Index (DXY) is facing challenges in maintaining its corrective bounce from a multi-month low, retreating from its intraday high to 99.93 during the early Asian session on Wednesday. The positive readings of the US Core Retail Sales for June supported the DXY's recovery from its lowest level since April 2022. However, with a risk-on sentiment prevailing and talks of a potential policy pivot by the US Federal Reserve (Fed), the US Dollar bulls are being encouraged in the absence of major data or events. According to a recent Reuters poll of around 109 economists, the widely anticipated 25 basis points rate hike by the Fed in July is expected to be the last increase in the current tightening cycle. It is worth noting that the improved risk appetite is driven by the positive performance of US banks and positive headlines related to China, which have allowed Wall Street benchmarks to reach new yearly highs. However, it should be mentioned that benchmark US 10-year Treasury bond yields remain under pressure around 3.78%, while the two-year yields have edged higher to approximately 4.76%. Regarding US data, Retail Sales growth for June came in at 0.2% month-on-month, falling short of the expected 0.5% and revised previous reading. However, the Retail Sales Control Group showed growth of 0.6%, surpassing market forecasts of -0.3% and the previous reading of 0.3%. US Industrial Production for June printed at -0.5%, missing analysts' estimations of 0.0%. Looking ahead, with a light economic calendar, the US Dollar Index's intraday moves may be limited, potentially triggering a pullback towards the multi-month low of 99.56 seen the previous day. Therefore, it is crucial to monitor risk catalysts for short-term market directions. <h2>Diagram of US Dollar Index (DXY): -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689751232575-kfod3dxrm0gkhkf-dxy2023-07-1912-35-48-1.png"> <h2>Economic Events : -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689751253149-8bdn7y1ko0l9koj-economic-event.png"> <h2>Buy Scenario: - </h2>&nbsp;The current chart analysis of the dollar index (DXY) suggests a bullish momentum, indicating the potential for a continuation of the upward movement towards the first resistance level.&nbsp;The intermediate support level at 99.66 is identified as a support level based on previous swings, potentially acting as a barrier to any short-term downtrend.&nbsp;The first support level at 99.42 is recognized as an overlap support, which could serve as a rebound point if the price experiences further downward movement.&nbsp;If the bullish momentum persists, the price might encounter resistance at 100.84, which is considered an overlap resistance. This level could present a challenge to the upward price movement.&nbsp;A sustained rise in price could lead to the second resistance level at 101.99. This level is characterized as an overlap resistance and also aligns with the 61.80% Fibonacci retracement level, adding to its significance as a potential turning point. Till we do not advise to buy US Dollar Index.&nbsp;<h2>Sell Scenario: - </h2>&nbsp;The US Dollar Index (DXY) is currently in oversold territory, as indicated by the 14-period Relative Strength Index (RSI). This, along with the presence of multiple resistance levels formed in early 2022, is expected to provide support and restrict further downside for the DXY in the short term, specifically around the 99.40-99.35 region. However, it is worth noting that a significant corrective bounce is unlikely unless the index manages to surpass the previous low recorded in April, which is approximately around 100.80. &nbsp;Till we do not advise to sell in US Dollar Index&nbsp;<h2>Support and Resistance Level: -</h2>﻿&nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 99.64&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 100.18&nbsp;S2 99.34&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 100.41&nbsp;S3 99.10&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 100.72

bank-notes-941246_640 (1).jpg

US Dollar Index (DXY) as its recovery from a 15-month low near 100.00 diminishes, influenced by concerns over the Federal Reserve's actions and the presence of positive market sentiment.

US Dollar Index Analysis: Recovery Fades on Fed Concerns, Upbeat Sentiment

US Dollar Index Analysis: Recovery Stalls amid Fed Concerns- 19-07-2023

The U.S. dollar touched a 15-month low and then bounced against a basket of currencies on Tuesday after core retail sales saw strong gains in June, as investors wait on the Federal Reserve’s interest rate decision next week. The Headline U.S.&nbsp;is Retail sales grew less than expected in June, rising 0.2% during the month. Data for May was also revised higher to show sales gaining 0.5% instead of 0.3% as previously reported. Core sales showed more resilience, however. Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.6% in June. Data for May was revised slightly up to show core retail sales increasing 0.3% instead of the previously reported 0.2%. The softer-than-expected headline number suggests that "the Fed is making some progress,” said Bipan Rai, North American head of FX strategy at CIBC Capital Markets in Toronto. However, “you still did get a fairly strong control group number - that’s going to feed through to GDP and domestic demand. That’s still very much supportive of the fact that the Fed does need to hike rates again later this month,” Rai said. The dollar tumbled after consumer and producer price gains slowed in June, boosting expectations that the U.S. central bank will stop hiking rates after a widely expected 25 basis-point increase at its July 25-26 meeting. Fed funds futures traders are pricing in an additional 32 basis points of tightening this year, with the benchmark rate expected to peak at 5.39% in November. Traders will also be watching inflation releases from regions including the eurozone, Britain and Japan this week for further clues about whether inflation is cooling globally.The dollar index was last up 0.06% on the day at 99.956, after earlier falling to 99.549, the lowest since April 2022. The euro dipped 0.02% to $1.1226 after earlier hitting $1.12760, the highest since February, 2022. European Central Bank (ECB) governing council member Klaas Knot said on Tuesday that the bank will look closely for signs of inflation cooling down in the coming months to avoid taking rate hikes too far. The European Central Bank is expected to raise interest rates by 25 bps next week.The dollar rose 0.03% to 138.71 against the Japanese yen, its lowest since May 17, after falling to 137.245 on Friday. The British pound was little changed at $1.3074, after hitting $1.31440 on Thursday, the highest since April 2022. The Australian dollar fell 0.15% to $0.6807 after minutes of the Reserve Bank of Australia's (RBA) July policy meeting released on Tuesday showed no major surprises on the rate outlook.

engin-akyurt-x9maSBSQBfM-unsplash (2) (1).jpg

Explore the impact of robust U.S. retail sales on the dollar as it experiences a temporary dip followed by a significant bounce in the market.

U.S. Dollar's Reaction to Strong Core Retail Sales

Dollar dips, then bounces on strong core U.S. retail sales

<h1>US Doller Index Analysis</h1>&nbsp;<h2>Key Points: -</h2>&nbsp; ·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The US Dollar Index is currently positioned defensively, hovering near its lowest levels in the past five weeks, but it has shown some upward movement in recent times. &nbsp;·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The observance of the Juneteenth holiday has provided a chance for the DXY to recover from its recent losses, primarily supported by the hawkish bias of the Federal Reserve and mixed economic data from the United States. &nbsp;·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As we look ahead to the coming days with a relatively light economic calendar, it will be crucial to monitor the risk catalysts and the discussions surrounding the Federal Reserve, especially in anticipation of Fed Chair Powell's Testimony and the release of PMIs.&nbsp;<h2>Today's Scenario: - </h2>&nbsp;The US Dollar Index (DXY) has managed to recover around the 102.30-40 level after recent losses, with a sluggish start to the Monday morning trading session in Asia. This lackluster performance can be attributed to the Juneteenth holiday in the US, which has resulted in decreased market interest. Additionally, the DXY's rebound can be partly attributed to concerns of a more hawkish stance from the Federal Reserve. However, the US Dollar bears remain hopeful due to mixed economic data and the relatively hawkish moves by the European Central Bank (ECB).&nbsp;Preliminary readings of the University of Michigan (UoM) Consumer Sentiment Index (CSI) for June showed improvement, but the easing of US inflation expectations has tempered the bullish sentiment towards the US Dollar. Nonetheless, recent statements from Fed policymakers, expressing a more hawkish view, have allowed the DXY to consolidate its recent losses in the face of a slow start to an important week. It's worth noting that the US Dollar Index experienced its largest drop since early January last week.&nbsp;The latest US Federal Reserve (Fed) Monetary Policy Report to the US Congress, released on Friday, indicated that "inflation in the US is well above target and the labor market remains very tight," as reported by Reuters. The report also highlighted considerable uncertainty regarding the outlook for the funds rate, according to Reuters.&nbsp;Richmond Fed President Thomas Barkin cautioned against further rate hikes, citing the risk of a significant economic slowdown. However, he also mentioned that the Fed has the tools to manage a resilient US economy, which led to a rise in 2-year Treasury bond yields to 4.75% and helped the US Dollar rebound from its recent lows. In addition to Barkin, Chicago Fed President Austan Goolsbee and Federal Reserve Governor Christopher Waller also expressed slightly more hawkish views, contributing to the DXY's reversal from multi-day lows the previous day.&nbsp;On the other hand, downbeat US inflation and Retail Sales, combined with the Fed's decision to pause its hawkish stance, have bolstered the DXY bulls. Positive news from China, including constructive talks between US Secretary of State Antony Blinken and Chinese Foreign Minister Qin Gang, has also influenced market sentiment. However, the talks yielded limited agreements, with a future meeting in Washington planned to continue discussions, according to Reuters. Furthermore, the South China Morning Post (SCMP) reported positive signals from the China State Council, stating that they are considering macroeconomic policies to expand effective demand, strengthen the real economy, and mitigate risks in key areas.&nbsp;Against this backdrop, S&amp;P500 Futures are reflecting mild losses on Wall Street due to the absence of US stock and bond market participants on Monday. This situation may impact the future movements of the DXY. However, the market will closely monitor Fed Chairman Powell's bi-annual testimony and the release of PMIs for June for further guidance and clarity.&nbsp;&nbsp;<h2>Diagram of US Dollar Index (DXY): -</h2>&nbsp; <img src="https://cdn.forexoverflow.io/images/1687157025126-gv8p44g5pyvvk4h-dxy2023-06-1912-01-45-1.png"> <h2>Economic Events : -</h2>&nbsp;Date&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Event&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impact&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Currency&nbsp;04:00&nbsp;&nbsp;&nbsp;(New Zealand) Services NZ PSI&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NZD&nbsp;04:00&nbsp;&nbsp;&nbsp;(New Zealand) Composite NZ PCI&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;NZD&nbsp;05:30&nbsp;&nbsp;&nbsp;(United States) Juneteenth&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD&nbsp;09:05&nbsp;&nbsp;&nbsp;(Japan) 52-Week Bill Auction&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPY&nbsp;13:30&nbsp;&nbsp;&nbsp;(Australia) Myfxbook AUDUSD Sentiment&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medium&nbsp;AUD&nbsp;13:30&nbsp;&nbsp;&nbsp;(Switzerland) Myfxbook USDCHF Sentiment &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medium&nbsp;CHF&nbsp;13:30&nbsp;&nbsp;&nbsp;(Japan) Myfxbook USDJPY Sentiment&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medium&nbsp;&nbsp;&nbsp;JPY&nbsp;13:30&nbsp;&nbsp;&nbsp;(European Union) Myfxbook EURUSD Sentiment&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medium&nbsp;&nbsp;EUR&nbsp;13:30&nbsp;&nbsp;&nbsp;(United Kingdom) Myfxbook GBPUSD Sentiment&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medium&nbsp;&nbsp;GBP&nbsp;13:30&nbsp;&nbsp;&nbsp;(Canada) Myfxbook USDCAD Sentiment&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medium&nbsp;&nbsp;&nbsp;&nbsp;CAD&nbsp;13:30&nbsp;&nbsp;&nbsp;(New Zealand) Myfxbook NZDUSD Sentiment&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medium&nbsp;&nbsp;NZD&nbsp;13:30&nbsp;&nbsp;&nbsp;(Euro Area) ECB Survey of Monetary Analysts&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;EUR&nbsp;15:00&nbsp;&nbsp;&nbsp;(Germany) 12-Month Bubill Auction&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;EUR&nbsp;16:00&nbsp;&nbsp;&nbsp;(Portugal) Current Account&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR&nbsp;16:30&nbsp;&nbsp;&nbsp;(Euro Area) ECB Lane Speech&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR&nbsp;17:10&nbsp;&nbsp;&nbsp;(Euro Area) ECB Schnabel Speech&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;EUR&nbsp;18:00&nbsp;&nbsp;&nbsp;(Canada) PPI YoY&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CAD&nbsp;18:00&nbsp;&nbsp;&nbsp;(Canada) PPI MoM&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CAD&nbsp;18:00&nbsp;&nbsp;&nbsp;(Canada) Raw Materials Prices YoY &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;CAD&nbsp;18:00&nbsp;&nbsp;&nbsp;(Canada) Raw Materials Prices MoM&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;CAD&nbsp;18:30&nbsp;&nbsp;&nbsp;(France) 3-Month BTF Auction&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR&nbsp;18:30&nbsp;&nbsp;&nbsp;(France) 12-Month BTF Auction&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR&nbsp;18:30&nbsp;&nbsp;&nbsp;(France) 6-Month BTF Auction&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR&nbsp;19:30&nbsp;&nbsp;&nbsp;(United States) NAHB Housing Market Index &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medium&nbsp;USD&nbsp;23:30&nbsp;&nbsp;&nbsp;(Euro Area) ECB Guindos Speech&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;High&nbsp;&nbsp;&nbsp;EUR&nbsp;&nbsp;<h2>Buy Scenario: - </h2>&nbsp;The prospects of a complete recovery are uncertain unless the quote manages to stay below the 50-day moving average (DMA) resistance level, which is currently around 102.60. Till we do not advise to buy US Dollar Index.&nbsp;<h2>Sell Scenario: - </h2>&nbsp;The US Dollar Index has experienced a rebound from a rising support line that has been in place for the past two months, with the latest reading near 102.05. Till we do not advise to sell in US Dollar Index&nbsp;<h2>Support and Resistance Level: -</h2>﻿&nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 102.06&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 102.48&nbsp;S2 101.82&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 102.67&nbsp;S3 101.64&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 102.90

The US Dollar Index (DXY) has managed to recover around the 102.30-40 level after recent losses, with a sluggish start to the Monday morning trading session in Asia. This lackluster performance can be attributed to the Juneteenth holiday in the US, which has resulted in decreased market interest. 

Daily Analysis For US Doller Index 19-06-2023

**US Doller Index Analysis**

**Key Points**

•	*The index has retraced some of its recent gains after reaching recent highs.*

•	*Policy makers are making progress towards reaching a deal on the debt ceiling issue.*

•	*Later on Friday, the focus will be on US inflation, particularly the Personal Consumption Expenditures (PCE) index.*

•	*The US Dollar Index continues to rise and is currently trading above 104.000. This upward movement is mainly driven by strong US Treasury bond yields.*

•	*If the index manages to close above the 200-day Exponential Moving Average (EMA) for a third consecutive day, it could strengthen the bullish outlook. This could potentially push the index towards the 105.000 level.*
***
**Today's Scenario: -** 
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of six major currencies, has continued its rally for four consecutive days. It has moved further away from the 200-day Exponential Moving Average (EMA) level, which was reached on May 24 at 103.743. The recent strength of the index has been supported by high US Treasury bond yields. As of the time of writing, the DXY is trading at 104.211, showing a gain of 0.31%. Bullish investors are now targeting the 105.000 level.
***
**Diagram of US Dollar Index (DXY)**

![US Dollar Index (DXY)](https://res.cloudinary.com/forex-overflow/image/upload/v1685096681/fx-overflow-assets/gt5dp2usf0hcbbl0vo3r.png)

**Economic Events : -**

| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:30	| (Japan) Tokyo Core CPI YoY	| Low	| JPY |
| 00:30	| (Japan) Tokyo CPI YoY	| Low	| JPY |
| 00:30	| (Japan) Tokyo CPI Ex Food and Energy YoY	| Low	| JPY |
| 02:30	| (Australia) Retail Sales MoM	| High	| AUD | 
| 04:35	| (Japan) 3-Month Bill Auction	| Low	| JPY |
| 06:00	| (Japan) Leading Economic Index	| Low	| JPY |
| 06:00	| (Japan) Coincident Index	| Low	| JPY |
| 07:00	| (Lithuania) Retail Sales MoM	| Low	| EUR |
| 07:00	| (Lithuania) Retail Sales YoY	| Low	| EUR |
| 07:00	| (United Kingdom) Retail Sales ex Fuel MoM	| High	| GBP |
| 07:00	| (United Kingdom) Retail Sales ex Fuel YoY	| High	| GBP |
| 07:00	| (United Kingdom) Retail Sales YoY	| High	| GBP |
| 07:00	| (United Kingdom) Retail Sales MoM	| High	| GBP |
| 07:30	| (Switzerland) Non Farm Payrolls	| Low	| CHF |
| 07:45	| (France) Consumer Confidence	| Medium	| EUR |
| 08:15	| (Euro Area) ECB Enria Speech	| Low	| EUR |
| 08:40	| (Euro Area) ECB Lane Speech	| Medium	| EUR |
| 09:00	| (Italy) Consumer Confidence	| Medium	| EUR |
| 09:00	| (Italy) Business Confidence	| Medium	| EUR |
| 09:00	| (Austria) Bank Austria Manufacturing PMI	| High	| EUR |
| 10:10	| (Italy) 6-Month BOT Auction	| Low	| EUR |
| 11:00	| (France) Jobseekers Total	| Low	| EUR |
| 11:00	| (France) Unemployment Benefit Claims	| Medium	| EUR |
| 11:00	| (Luxembourg) Balance of Trade	| Low	| EUR |
| 13:30	| (Canada) Wholesale Sales MoM	| Low	| CAD |
| 13:30	| (United States) Goods Trade Balance	| High	| USD |
| 13:30	| (United States) Wholesale Inventories MoM	| Medium	| USD |
| 13:30	| (United States) Core PCE Price Index MoM	| High	| USD |
| 13:30	| (United States) Core PCE Price Index YoY	| Low	| USD |
| 13:30	| (United States) PCE Price Index MoM	| Medium	| USD |
| 13:30	| (United States) PCE Price Index YoY	| Medium	| USD |
| 13:30	| (United States) Personal Spending MoM	| High	| USD |
| 13:30	| (United States) Personal Income MoM	| High	| USD |
| 13:30	| (United States) Retail Inventories Ex Autos MoM	| Medium	| USD |
| 13:30	| (United States) Durable Goods Orders Ex Transp MoM	| High	| USD |
| 13:30	| (United States) Non Defense Goods Orders Ex Air	| Low	| USD |
| 13:30	| (United States) Durable Goods Orders MoM	| High	| USD |
| 13:30	| (United States) Durable Goods Orders ex Defense MoM	| High	| USD |
| 15:00	| (United States) Michigan Consumer Expectations	| Low	| USD |
| 15:00	| (United States) Michigan Current Conditions	| Low	| USD |
| 15:00	| (United States) Michigan 5 Year Inflation Expectations	| Low	| USD |
| 15:00	| (United States) Michigan Consumer Sentiment	| High	| USD |
| 15:00	| (United States) Michigan Inflation Expectations	| Low	| USD |
| 16:00	| (Canada) Budget Balance	| Low	| CAD |
| 18:00	| (United States) Baker Hughes Oil Rig Count	| Low	| USD |
| 18:00	| (United States) Baker Hughes Total Rig Count	| Low	| USD |
***
**Buy Scenario: -** For two consecutive days, the US Dollar Index (DXY) has remained above the 200-day Exponential Moving Average (EMA), indicating gathering momentum for the bulls. A third daily close above the 200-day EMA would further solidify the bullish bias, especially considering the presence of a double-bottom chart pattern, which could potentially lead to a move towards the 105.000 level.

To validate the double-bottom pattern and confirm a bullish trend, the DXY would need to surpass crucial resistance levels. If it manages to break the year-to-date high of 105.883, it would strengthen the bullish case. Additionally, the Relative Strength Index (RSI) indicator is currently in bullish territory with some room to go before reaching overbought levels. The 3-day Rate of Change (RoC) suggests that buyers are currently in control.

If the DXY successfully reclaims the 104.000 level, the next resistance to test would be the daily high from March 15 at 105.103. A break above that level would pave the way for a clear upward move towards an eight-month-old resistance trendline in the 105.300-600 area, followed by a potential breakthrough of the year-to-date high at 105.883. Till we do not advise to buy US Dollar Index.
***
**Sell Scenario: -** However, there are downside risks for the DXY if it fails to maintain its position above the 200-day EMA. In such a scenario, the greenback could slide towards the 100-day EMA at 103.212. A decisive break below that level would lead the DXY towards the swing low from May 22 at 102.964, just below the 103.000 mark. Till we do not advise to sell in US Dollar Index
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 103.93| - | |R1 104.42|
  | S2 103.63| - | |R2 104.61|	
  | S3 103.44| - | |R3 104.91|


**US Doller Index Analysis**

**Key Points**

•	*The index has retraced some of its recent gains after reaching recent highs.*

•	*Policy makers are making progress towards reaching a deal on the debt...

Daily Analysis For US Doller Index 26-05-2023

**US Doller Index Analysis** 

**Key Points**

*•	The US Dollar Index (DXY) has experienced a 0.36% increase, currently trading at 103.888. This upward trend has been sustained for three consecutive days, surpassing the 200-day Exponential Moving Average (EMA).*

*•	In order to validate the double-bottom pattern and overcome various resistance levels, DXY needs to reach the year-to-date (YTD) high of 105.883.*

*•	Potential risks exist below the 200-day EMA. If the index breaks this level, it may decline towards the 100-day EMA at 103.212, with a further potential drop to the low of 102.964 observed on May 22nd.*
***
**Today's Scenario: -** The index continues its relentless upward movement, surpassing the significant barrier of 104.00 on Thursday and reaching new multi-week highs.

Meanwhile, the diminishing expectations of the Federal Reserve halting its normalization process in June are supported by the consistent strength of crucial US economic indicators, particularly employment and prices. This strength is evident despite the ongoing surge in US yields and the US Dollar Index (DXY).

On the other hand, there is a growing inclination towards the Fed considering a pause, primarily due to the additional tightening of credit conditions driven by the uncertainty surrounding the US banking sector.
***
**Diagram of US Dollar Index (DXY)**

![US Dollar Index](https://res.cloudinary.com/forex-overflow/image/upload/v1685002125/fx-overflow-assets/hleagzyikzjoik30bunp.png)

**Economic Events and Scenario for US Doller Index**

**Economic Events : -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:01	| (United Kingdom) Car Production YoY	| Low	| GBP |
| 00:50	| (Japan) Foreign Bond Investment	| Low	| JPY |
| 00:50	| (Japan) Stock Investment by Foreigners	| Low	| JPY |
| 01:00	| (Australia) RBA Payments System Board Meeting	| Low	| AUD |
| 04:35	| (Japan) 40-Year JGB Auction	| Low	| JPY |
| 07:00	| (Germany) GDP Growth Rate QoQ	| Medium	| EUR |
| 07:00	| (Germany) GDP Growth Rate YoY	| Medium	| EUR |
| 07:00	| (Germany) GfK Consumer Confidence	| High	| EUR |
| 07:45	| (France) Business Confidence	| Medium	| EUR |
| 07:45	| (France) Business Climate Indicator	| Low	| EUR |
| 08:00	| (Spain) PPI YoY	| Low	| EUR |
| 09:30	| (Slovenia) Tourist Arrivals YoY	| Low	| EUR |
| 09:30	| (Slovenia) Business Confidence	| Low	| EUR |
| 10:00	| (Euro Area) ECB Annual Report 2022	| Low	| EUR |
| 10:00	| (Euro Area) ECB Guindos Speech	| High	| EUR |
| 10:10	| (Italy) BTP Short Term	| Low	| EUR |
| 11:00	| (United Kingdom) CBI Distributive Trades	| Medium	| GBP |
| 11:00	| (Latvia) Unemployment Rate	| Low	| EUR |
| 12:00	| (Canada) CFIB Business Barometer	| Low	| CAD |
| 13:30	| (Canada) Manufacturing Sales MoM	| Low	| CAD |
| 13:30	| (United States) Jobless Claims 4-week Average	| High	| USD |
| 13:30	| (United States) Continuing Jobless Claims	| High	| USD |
| 13:30	| (United States) Initial Jobless Claims	| High	| USD |
| 13:30	| (United States) Chicago Fed National Activity Index	| Medium	| USD |
| 13:30	| (United States) Real Consumer Spending QoQ	| Low	| USD |
| 13:30	| (United States) GDP Sales QoQ	| Low	| USD |
| 13:30	| (United States) Core PCE Prices QoQ	| Low	| USD |
| 13:30	| (United States) PCE Prices QoQ	| Low	| USD |
| 13:30	| (United States) GDP Price Index QoQ	| Medium	| USD |
| 13:30	| (United States) Corporate Profits QoQ	| Medium	| USD |
| 13:30	| (United States) GDP Growth Rate QoQ	| Medium	| USD |
| 13:30	| (Canada) Average Weekly Earnings YoY	| Low	| CAD |
| 15:00	| (United States) Pending Home Sales YoY	| Medium	| USD |
| 15:00	| (United States) Pending Home Sales MoM	| Medium	| USD |
| 15:30	| (United States) EIA Natural Gas Stocks Change	| Low	| USD |
| 15:30	| (United States) Fed Collins Speech	| Medium	| USD |
| 16:00	| (United States) Kansas Fed Composite Index	| Low	| USD |
| 16:00	| (United States) Kansas Fed Manufacturing Index	| Low	| USD |
| 16:30	| (United States) 8-Week Bill Auction	| Low	| USD |
| 16:30	| (United States) 4-Week Bill Auction	| Low	| USD |
| 17:30	| (United Kingdom) BoE Haskel Speech	| Low	| GBP |
| 18:00	| (United States) 7-Year Note Auction	| Low	| USD |
| 23:00	| (New Zealand) ANZ Roy Morgan Consumer Confidence	| Low	| NZD |
***
**Buy Scenario: -** From a daily chart perspective, the US Dollar Index exhibits a neutral to bullish bias. However, it has the potential to solidify its bullish bias once it successfully surpasses the 200-day Exponential Moving Average (EMA). It is worth noting that a double-bottom pattern has emerged on the weekly chart.

In order to validate the double-bottom chart pattern, the DXY needs to reach the year-to-date (YTD) high of 105.883. However, there are several resistance levels that the US Dollar needs to overcome on its upward journey. On the positive side, the Relative Strength Index (RSI) indicator indicates a bullish territory with some room for further gains before reaching overbought levels. Additionally, the 3-day Rate of Change (RoC) suggests that buyers are gaining momentum.

Once the DXY reclaims the 104.000 level, the next resistance level to challenge would be the daily high of 105.103 recorded on March 15th. If this level is surpassed, the DXY will have a clear path to test a resistance trendline that has been in place for eight months, located in the range of 105.300-600. Subsequently, it can aim to break the YTD high at 105.883. Till we do not advise to buy US Dollar Index.
***
**Sell Scenario: -** However, there are downside risks for the DXY below the 200-day EMA. Breaching this level could lead to a decline towards the 100-day EMA at 103.212. If a clear break occurs, the DXY may slide further towards the swing low of 102.964 observed on May 22nd, which is slightly below the 103.000 threshold. Till we do not advise to sell in US Dollar Index
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 103.54| - | |R1 104.10|
  | S2 103.17| - | |R2 104.29|	
  | S3 102.98| - | |R3 104.66|


**US Doller Index Analysis** 

**Key Points**

*•	The US Dollar Index (DXY) has experienced a 0.36% increase, currently trading at 103.888. This upward trend has been sustained for three consecutive d...

Daily Analysis For US Doller Index 25-05-2023

**US Doller Index Analysis**


![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684911372/fx-overflow-assets/gxbqfxv5dvgklswb41tx.png)

**Economic Events and Scenario for US Doller Index**

**Economic Events : -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:00	| (Japan) Reuters Tankan Index	| Medium	| JPY |
| 01:00	| (Ecuador) The Battle of Pichincha	| None	| USD |
| 02:00	| (Australia) Westpac Leading Index MoM	| Low	| AUD |
| 03:00	| (New Zealand) RBNZ Interest Rate Decision	| Medium	| NZD |
| 04:00	| (East Timor) Inflation Rate YoY	| Low	| USD |
| 04:00	| (East Timor) Inflation Rate MoM	| Low	| USD |
| 04:00	| (New Zealand) RBNZ Press Conference	| Medium	| NZD |
| 06:00	| (Finland) Export Prices YoY	| Low	| EUR |
| 06:00	| (Finland) Import Prices YoY	| Low	| EUR |
| 06:00	| (Finland) PPI YoY	| Low	| EUR |
| 06:00	| (Finland) Unemployment Rate	| Low	| EUR |
| 07:00	| (United Kingdom) Core Inflation Rate MoM	| Low	| GBP |
| 07:00	| (United Kingdom) PPI Output YoY	| Low	| GBP |
| 07:00	| (United Kingdom) PPI Input YoY	| Low	| GBP |
| 07:00	| (United Kingdom) PPI Input MoM	| Low	| GBP |
| 07:00	| (United Kingdom) PPI Output MoM	| Low	| GBP |
| 07:00	| (United Kingdom) Inflation Rate MoM	| Medium	| GBP |
| 07:00	| (United Kingdom) Core Inflation Rate YoY	| Medium	| GBP |
| 07:00	| (United Kingdom) Inflation Rate YoY	| High	| GBP |
| 07:00	| (United Kingdom) PPI Core Output YoY	| Low	| GBP |
| 07:00	| (United Kingdom) PPI Core Output MoM	| Low	| GBP |
| 07:00	| (United Kingdom) Retail Price Index YoY	| Low	| GBP |
| 07:00	| (United Kingdom) Retail Price Index MoM	| Low	| GBP |
| 08:00	| (Euro Area) ECB Non-Monetary Policy Meeting	| Medium	| EUR |
| 08:10	| (Australia) RBA Jacobs Speech	| Medium	| AUD |
| 09:00	| (Germany) Ifo Expectations	| Low	| EUR |
| 09:00	| (Germany) Ifo Current Conditions	| Low	| EUR |
| 09:00	| (Germany) Ifo Business Climate	| High	| EUR |
| 10:30	| (Germany) 15-Year Bund Auction	| Low	| EUR |
| 10:30	| (United Kingdom) BoE Gov Bailey Speech	| Medium	| GBP |
| 11:00	| (United Kingdom) CBI Industrial Trends Orders	| Medium	| GBP |
| 12:00	| (United States) MBA 30-Year Mortgage Rate	| Medium	| USD |
| 12:00	| (United States) MBA Mortgage Applications	| Low	| USD |
| 12:00	| (United States) MBA Mortgage Refinance Index	| Low	| USD |
| 12:00	| (United States) MBA Mortgage Market Index	| Low	| USD |
| 12:00	| (United States) MBA Purchase Index	| Low	| USD |
| 14:00	| (Belgium) Business Confidence	| Low	| EUR |
| 15:30	| (United States) EIA Refinery Crude Runs Change	| Low	| USD |
| 15:30	| (United States) EIA Crude Oil Stocks Change	| Medium	| USD |
| 15:30	| (United States) EIA Heating Oil Stocks Change	| Low	| USD |
| 15:30	| (United States) EIA Distillate Stocks Change	| Low	| USD |
| 15:30	| (United States) EIA Gasoline Production Change	| Low	| USD |
| 15:30	| (United States) EIA Crude Oil Imports Change	| Low	| USD |
| 15:30	| (United States) EIA Gasoline Stocks Change	| Medium	| USD |
| 15:30	| (United States) EIA Cushing Crude Oil Stocks Change	| Low	| USD |
| 15:30	| (United States) EIA Distillate Fuel Production Change	| Low	| USD |
| 16:30	| (United States) 17-Week Bill Auction	| Low	| USD |
| 16:30	| (United States) 2-Year FRN Auction	| Low	| USD |
| 17:00	| (Canada) 10-Year Bond Auction	| Low	| CAD |
| 17:10	| (United States) Fed Waller Speech	| Medium	| USD |
| 18:00	| (United States) 5-Year Note Auction	| Low	| USD |
| 18:45	| (Euro Area) ECB President Lagarde Speech	| Medium	| EUR |
| 19:00	| (United States) FOMC Minutes	| High	| USD |
***
**Today's Scenario: -** The US Dollar Index (DXY) has reached a nine-week high but is currently experiencing a pause as it hovers around 103.50. Traders are eagerly awaiting the release of the latest Federal Open Market Committee (FOMC) Meeting Minutes, which is influencing the movement of the greenback against six major currencies. The ongoing concerns about the possibility of a US default are also posing challenges for the DXY. However, the hawkish stance of the Federal Reserve (Fed) and positive economic data from the United States are providing some support to the DXY during the early Wednesday session.

The lack of progress in the talks to avoid the expiration of the US debt ceiling and fears of a potential default by the US government have weighed on market sentiment recently. US House Speaker Kevin McCarthy recently indicated that there would be no deal on the debt ceiling extension today, but he remains optimistic that an agreement will be reached before June 1. In addition, there have been reports that the US Treasury has asked various agencies if they can delay payment demands.
***
**Buy Scenario: -** On the upside, a break above the resistance level at 103.65, which is the monthly high from May 23, could potentially lead to further gains. The next resistance levels to monitor are at 105.73, which corresponds to the 200-day SMA, and then at 105.88, which represents the high from March 8, 2023.

Please note that the information provided is based on the given scenario and historical price levels. Market conditions are subject to change, and it is important to conduct thorough analysis and consider other factors before making any trading decisions. Till we do not advise to buy US Dollar Index.
***
**Sell Scenario: -** The US Dollar Index (DXY) has declined by 0.12% to 103.39 and is currently testing support at the 55-day Simple Moving Average (SMA) at 102.45. If the index breaks below this level, the next support levels to watch are at 101.01, which is the weekly low from April 26, and then at 100.78, which is the low from April 14, 2023. Till we do not advise to sell in US Dollar Index
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 103.25| - | |R1 103.73|
  | S2 102.96| - | |R2 103.93|	
  | S3 102.76| - | |R3 104.22|


**US Doller Index Analysis**


![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684911372/fx-overflow-assets/gxbqfxv5dvgklswb41tx.png)

**Economic Events and Scenario for US...

Daily Analysis For US Doller Index 24-05-2023

**US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684825488/fx-overflow-assets/o1pqk3kek3kdbpzk7bsw.png)

**Economic Events and Scenario for US Doller Index**

**Economic Events : -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:00	| (Australia) Judo Bank Composite PMI	| Low	| AUD |
| 00:00	| (Australia) Judo Bank Manufacturing PMI	| High	| AUD |
| 00:00	| (Australia) Judo Bank Services PMI	| High	| AUD |
|01:00	| (Montenegro) Independence Day	| None	| EUR |
| 01:30	| (Japan) Jibun Bank Manufacturing PMI	| Medium	| JPY |
| 01:30	| (Japan) Jibun Bank Services PMI	| Medium	| JPY |
| 01:30	| (Japan) Jibun Bank Composite PMI	| Low	| JPY |
| 07:00	| (Lithuania) Industrial Production MoM	| Low	| EUR |
| 07:00	| (Lithuania) Industrial Production YoY	| Low	| EUR |
| 07:00	| (United Kingdom) Public Sector Net Borrowing	| Low	| GBP |
| 07:00	| (United Kingdom) Public Sector Net Borrowing Ex Banks	| Low	| GBP |
| 08:00	| (Slovakia) Current Account	| Low	| EUR |
| 08:15	| (France) S&P Global Composite PMI	| Low	| EUR |
| 08:15	| (France) S&P Global Manufacturing PMI	| Medium	| EUR |
| 08:15	| (France) S&P Global Services PMI	| Medium	| EUR |
| 08:15	| (Euro Area) ECB Guindos Speech	| High	| EUR |
| 08:15	| (Euro Area) ECB Jochnick Speech	| Low	| EUR |
| 08:30	| (Germany) S&P Global Composite PMI	| Low	| EUR |
| 08:30	| (Germany) S&P Global Services PMI	| High	| EUR |
| 08:30	| (Germany) S&P Global Manufacturing PMI	| High	| EUR |
| 09:00	| (Euro Area) Current Account	| Low	| EUR |
| 09:00	| (Euro Area) S&P Global Composite PMI	| Low	| EUR |
| 09:00	| (Euro Area) S&P Global Services PMI	| High	| EUR |
| 09:00	| (Euro Area) S&P Global Manufacturing PMI	| High	| EUR |
| 09:00	| (Euro Area) Current Account s.a	| Low	| EUR |
| 09:30	| (Slovenia) Consumer Confidence	| Low	| EUR |
| 09:30	| (United Kingdom) S&P Global/CIPS Manufacturing PMI	| High	| GBP |
| 09:30	| (United Kingdom) S&P Global/CIPS UK Services PMI	| High	| GBP |
| 09:30	| (United Kingdom) S&P Global/CIPS Composite PMI	| Low	| GBP |
| 10:00	| (Italy) Current Account	| Low	| EUR |
| 10:00	| (United Kingdom) 28-Year Index-Linked Treasury Gilt Auction	| Low	| GBP |
| 10:30	| (Germany) 2-Year Schatz Auction	| Low	| EUR |
| 11:00	| (Latvia) PPI YoY	| Low	| EUR |
| 11:00	| (Latvia) PPI MoM	| Low	| EUR |
| 11:25	| (Euro Area) ECB Enria Speech	| Low	| EUR |
| 13:00	| (United States) Building Permits	| Medium	| USD |
| 13:00	| (United States) Building Permits MoM	| Low	| USD |
| 13:30	| (Canada) Raw Materials Prices YoY	| Low	| CAD |
| 13:30	| (Canada) Raw Materials Prices MoM	| Low	| CAD |
| 13:30	| (Canada) PPI YoY	| Low	| CAD |
| 13:30	| (Canada) PPI MoM	| Low	| CAD |
| 13:55	| (United States) Redbook YoY	| Low	| USD |
| 14:00	| (United States) Fed Logan Speech	| Medium	| USD |
| 14:45	| (United States) S&P Global Services PMI	| High	| USD |
| 14:45	| (United States) S&P Global Composite PMI	| Medium	| USD |
| 14:45	| (United States) S&P Global Manufacturing PMI	| High	| USD |
| 15:00	| (United States) Richmond Fed Manufacturing Shipments Index	| Low	| USD |
| 15:00	| (United States) New Home Sales MoM	| High	| USD |
| 15:00	| (United States) Richmond Fed Services Index	| Low	| USD |
| 15:00	| (United States) New Home Sales	| High	| USD |
| 15:00	| (United States) Richmond Fed Manufacturing Index	| Low	| USD |
| 15:30	| (Slovenia) Unemployment Rate	| Low	| EUR |
| 18:00	| (United States) 2-Year Note Auction	| Low	| USD |
| 20:00	| (El Salvador) Balance of Trade	| Low	| USD |
| 21:30	| (United States) API Crude Oil Stock Change	| Medium	| USD |
| 23:45	| (New Zealand) Retail Sales YoY	| High	| NZD |
| 23:45	| (New Zealand) Retail Sales QoQ	| High	| NZD |
***
**Today's Scenario: -** The US Dollar Index (DXY) is currently trading in a tight range above the immediate support level of 103.20 during the early Asian session. Investors are closely watching the outcome of face-to-face negotiations between US President Joe Biden and House of Representatives Kevin McCarthy regarding the United States debt-ceiling issues, which is keeping the market on edge.

In the Asian session, S&P500 futures have experienced notable gains after a volatile day on Monday, reflecting a relatively calm market sentiment.

Please note that market conditions can change rapidly, and the information provided is based on the hypothetical scenario outlined in the question. It may not reflect the actual market conditions at the time of reading.
***
**Buy Scenario: -** Currently, the US Dollar Index (DXY) is showing a slight gain of 0.10% at 103.33. If the index manages to break above the level of 103.62, which is the monthly high from May 18, it could potentially open the door for further upside towards the 200-day Simple Moving Average (SMA) at 105.74. Another resistance level to watch would be at 105.88, which was the high reached on March 8, 2023. Till we do not advise to buy US Dollar Index.
***
**Sell Scenario: -** On the downside, the next support level for the US Dollar Index is seen at the 55-day SMA, which is currently at 102.49. If the index breaks below this support, it could target the level of 101.01, which was the weekly low reached on April 26. The final support level to watch is at 100.78, which was the low reached on April 14, 2023. Till we do not advise to sell in US Dollar Index
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 103.01| - | |R1 103.42|
  | S2 102.78| - | |R2 103.60|	
  | S3 102.61| - | |R3 103.83|


**US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684825488/fx-overflow-assets/o1pqk3kek3kdbpzk7bsw.png)

**Economic Events and Scenario for US ...

Daily Analysis For US Doller Index 23-05-2023

**US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684743155/fx-overflow-assets/ycz0neoqfdail5w232r6.png)

**Economic Events and Scenario for US Doller Index**

**Economic Events : -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:50	| (Japan) Machinery Orders YoY	| Medium	| JPY |
| 00:50	| (Japan) Machinery Orders MoM	| Medium	| JPY |
| 01:00	| (Canada) Victoria Day	| None	| CAD |
| 01:00	| (Montenegro) Independence Day	| None	| EUR |
| 02:15	| (China) Loan Prime Rate 1Y	| Medium	| CNY |
| 02:15	| (China) Loan Prime Rate 5Y	| Medium	| CNY |
| 05:30	| (Netherlands) Consumer Confidence	| Medium	| EUR |
| 06:00	| (Estonia) PPI YoY	| Low	| EUR |
| 06:00	| (Estonia) PPI MoM	| Low	| EUR |
| 07:30	| (Switzerland) Industrial Production YoY	| Medium	| CHF |
| 08:00	| (Slovakia) Current Account	| Low	| EUR |
| 09:00	| (Greece) Current Account	| Low	| EUR |
| 09:00	| (Australia) Myfxbook AUDUSD Sentiment	| Medium	| AUD |
| 09:00	| (Switzerland) Myfxbook USDCHF Sentiment	| Medium	| CHF |
| 09:00	| (Japan) Myfxbook USDJPY Sentiment	| Medium	| JPY |
| 09:00	| (European Union) Myfxbook EURUSD Sentiment	| Medium	| EUR |
| 09:00	| (United Kingdom) Myfxbook GBPUSD Sentiment	| Medium	| GBP |
| 09:00	| (Canada) Myfxbook USDCAD Sentiment	| Medium	| CAD |
| 09:00	| (New Zealand) Myfxbook NZDUSD Sentiment	| Medium	| NZD |
| 10:00	| (Belgium) Consumer Confidence	| Low	| EUR |
| 10:00	| (Euro Area) Construction Output YoY	| Low	| EUR |
| 10:45	| (European Union) EU Bond Auction	| Low	| EUR |
| 11:00	| (Ireland) Wholesale Prices MoM	| Low	| EUR |
| 11:00	| (Ireland) Wholesale Prices YoY	| Low	| EUR |
| 11:00	| (Luxembourg) Unemployment Rate	| Low	| EUR |
| 11:30	| (Portugal) Current Account	| Low	| EUR |
| 13:00	| (Kosovo) Balance of Trade	| Low	| EUR |
| 13:30	| (United States) Fed Bullard Speech	| Medium	| USD |
| 14:00	| (France) 3-Month BTF Auction	| Low	| EUR |
| 14:00	| (France) 12-Month BTF Auction	| Low	| EUR |
| 14:00	| (France) 6-Month BTF Auction	| Low	| EUR |
| 15:00	| (Euro Area) Consumer Confidence	| Medium	| EUR |
| 15:50	| (United States) Fed Barkin Speech	| Medium	| USD |
| 15:50	| (United States) Fed Bostic Speech	| Medium	| USD |
| 16:30	| (United States) 3-Month Bill Auction	| Low	| USD |
| 16:30	| (United States) 6-Month Bill Auction	| Low	| USD |
| 20:00	| (El Salvador) Balance of Trade	| Low	| USD |
***
**Today's Scenario: -** The US Dollar Index (DXY) remains near its intraday low around 103.00 as it continues to retreat from the multi-day high reached on Friday. This decline is driven by concerns surrounding the US debt ceiling negotiations and the Federal Reserve (Fed) during the early hours of Monday. The DXY, which measures the US Dollar against six major currencies, reflects the market's anticipation of significant data and events scheduled for this week.

One factor contributing to the DXY's weakness is the inability of US policymakers to reach a deal on the debt ceiling, as well as mixed comments from Fed officials.

Reuters reported that US President Joe Biden and House Republican Speaker Kevin McCarthy will meet on Monday to discuss the debt ceiling, following a "productive" phone call between the two as the president returned to Washington. However, it should be noted that Republicans have expressed less optimism and temporarily suspended talks over the weekend.
***
**Buy Scenario: -** To regain control, the bears of the US Dollar Index (DXY) would require confirmation by breaking below the 100-day moving average (DMA) support, which is approximately located at 102.85. The current main trend of the US Dollar Index is upward, but Friday's price action suggests a potential shift in momentum towards the downside. The closest resistance level is at 103.54 (R1). A break above this level would indicate increasing buying pressure and could lead to a further rally towards the next target at 103.90 (R2). Till we do not advise to buy US Dollar Index.
***
**Sell Scenario: -** On the other hand, if downward momentum strengthens on Monday, we could see a break below the near-term support at 102.92 (S1). As the main trend is still upward, there might be a technical bounce on the initial test of this level. However, if it fails to hold, selling pressure could extend towards 102.64 (S2). Till we do not advise to sell in US Dollar Index
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 102.92| - | |R1 103.54|
  | S2 102.64| - | |R2 103.90|	
  | S3 102.29| - | |R3 104.17|


**US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684743155/fx-overflow-assets/ycz0neoqfdail5w232r6.png)

**Economic Events and Scenario for US ...

Daily Analysis For US Doller Index 22-05-2023

**US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684480010/fx-overflow-assets/wjtiih4svrvwwewroikq.png)

**Economic Events and Scenario for US Doller Index**

**Economic Events : -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:01	| (United Kingdom) Gfk Consumer Confidence	| High	| GBP |
| 00:30	| (Japan) Core Inflation Rate YoY	| Medium	| JPY |
| 00:30	| (Japan) Inflation Rate MoM	| Low	| JPY |
| 00:30	| (Japan) Inflation Rate YoY	| High	| JPY |
| 00:30	| (Japan) Inflation Rate Ex-Food and Energy YoY	| Low	| JPY |
| 01:00	| (Belgium) Friday after Ascension Day	| None	| EUR |
| 04:00	| (New Zealand) Credit Card Spending YoY	| Low	| NZD |
| 04:35	| (Japan) 3-Month Bill Auction	| Low	| JPY |
| 05:30	| (Japan) Tertiary Industry Index MoM	| Low	| JPY |
| 07:00	| (Germany) PPI YoY	| Low	| EUR |
| 07:00	| (Germany) PPI MoM	| Medium	| EUR |
| 08:00	| (Slovakia) Current Account	| Low	| EUR |
| 09:00	| (Greece) Current Account	| Low	| EUR |
| 09:00	| (Italy) Construction Output YoY	| Low	| EUR |
| 09:30	| (Slovenia) PPI YoY	| Low	| EUR |
| 10:00	| (Slovakia) Unemployment Rate	| Low	| EUR |
| 11:00	| (Spain) Consumer Confidence	| Medium	| EUR |
| 12:00	| (Montenegro) Current Account	| Low	| EUR |
| 13:30	| (Canada) Retail Sales YoY	| High	| CAD |
| 13:30	| (Canada) Retail Sales Ex Autos MoM	| High	| CAD |
| 13:30	| (Canada) Retail Sales MoM	| High	| CAD |
| 13:45	| (United States) Fed Williams Speech	| Medium	| USD |
| 14:00	| (United States) Fed Bowman Speech	| Medium	| USD |
| 15:55	| (Euro Area) ECB Schnabel Speech	| Medium	| EUR |
| 16:00	| (United States) Fed Chair Powell Speech	| High	| USD |
| 18:00	| (United States) Baker Hughes Oil Rig Count	| Low	| USD |
| 18:00	| (United States) Baker Hughes Total Rig Count	| Low	| USD |
| 20:00	| (Euro Area) ECB President Lagarde Speech	| Medium	| EUR |
***
**Today's Scenario: -** The US Dollar Index (DXY) is currently trading near 103.50, hovering around its highest levels in two months in a relatively slow session on Friday. The US Dollar faces some challenges and mixed sentiment, but it is supported by concerns about a hawkish stance from the Federal Reserve (Fed) and optimism that the US will avoid defaulting on its debt.

Market expectations of a rate cut by the Fed in 2023 have decreased significantly in recent days, while the possibility of a 0.25% rate hike in June has gained some acceptance, albeit at a slower pace. This has helped the US Dollar and yields to maintain their strength.
***
**Buy Scenario: -** The main trend of the US Dollar Index (DXY) is upward. The index has continued its rally above the level of 103.02 (Support 1) earlier today. It may encounter some minor resistance around 104.15 (Resistance 2), but if it manages to surpass this level, it could lead to an acceleration toward 104.68 (Resistance 3). Till we do not advise to buy US Dollar Index.
***
**Sell Scenario: -** However, if the index fails to hold above the level of 103.02 (Support 1), it would indicate weakness. If this leads to a significant downward momentum, we could see selling pressure pushing the index toward the next support level at 102.49 (Support 2). Till we do not advise to sell in US Dollar Index
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 103.02| - | |R1 103.85|
  | S2 102.49| - | |R2 104.15|	
  | S3 102.19| - | |R3 104.68|


**US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684480010/fx-overflow-assets/wjtiih4svrvwwewroikq.png)

**Economic Events and Scenario for US ...

Daily Analysis For US Doller Index 19-05-2023

**US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684394516/fx-overflow-assets/zjntklbl7shrtmpqykbl.png)

**Economic Events and Scenario for US Doller Index**

**Economic Events : -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:50	| (Japan) Foreign Bond Investment	| Low	| JPY |
| 00:50	| (Japan) Stock Investment by Foreigners	| Low	| JPY |
| 00:50	| (Japan) Imports YoY	| Low	| JPY |
| 00:50	| (Japan) Exports YoY	| Medium	| JPY |
| 00:50	| (Japan) Balance of Trade	| High	| JPY |
| 01:00	| (Austria) Ascension Day	| None	| EUR |
| 01:00	| (Belgium) Ascension Day	| None	| EUR |
| 01:00	| (Euro Area) Ascension Day	| None	| EUR |
| 01:00	| (Finland) Ascension Day	| None	| EUR |
| 01:00	| (France) Ascension Day	| None	| EUR |
| 01:00	| (Germany) Ascension Day	| None	| EUR |
| 01:00	| (Luxembourg) Ascension Day	| None	| EUR |
| 01:00	| (Netherlands) Ascension Day	| None	| EUR |
| 01:00	| (Switzerland) Ascension Day	| None	| CHF |
| 02:30	| (Australia) Part Time Employment Chg	| Medium	| AUD | 
| 02:30	| (Australia) Participation Rate	| Low	| AUD | 
| 02:30	| (Australia) Full Time Employment Chg	| Medium	| AUD | 
| 02:30	| (Australia) Unemployment Rate	| High	| AUD | 
| 02:30	| (Australia) Employment Change	| High	| AUD | 
| 04:00	| (East Timor) Inflation Rate YoY	| Low	| USD |
| 04:00	| (East Timor) Inflation Rate MoM	| Low	| USD |
| 04:35	| (Japan) 52-Week Bill Auction	| Low	| JPY |
| 07:30	| (Euro Area) ECB Guindos Speech	| High	| EUR |
| 09:00	| (Spain) Balance of Trade	| Medium	| EUR |
| 09:40	| (Spain) Obligacion Auction	| Low	| EUR |
| 09:40	| (Spain) 5-Year Bonos Auction	| Low	| EUR |
| 10:00	| (Euro Area) ECB President Lagarde Speech	| Medium	| EUR |
| 11:00	| (Portugal) PPI MoM	| Low	| EUR |
| 11:00	| (Portugal) PPI YoY	| Low	| EUR |
| 11:00	| (Slovakia) Unemployment Rate	| Low	| EUR |
| 11:30	| (Portugal) Private Consumption YoY	| Low	| EUR |
| 11:30	| (Portugal) Economic Activity YoY	| Low	| EUR |
| 13:30	| (United States) Philadelphia Fed Manufacturing Index	| Medium	| USD |
| 13:30	| (United States) Philly Fed Business Conditions	| Low	| USD |
| 13:30	| (United States) Philly Fed CAPEX Index	| Low	| USD |
| 13:30	| (United States) Philly Fed Employment	| Low	| USD |
| 13:30	| (United States) Philly Fed New Orders	| Low	| USD |
| 13:30	| (United States) Philly Fed Prices Paid	| Low	| USD |
| 13:30	| (United States) Initial Jobless Claims	| High	| USD |
| 13:30	| (United States) Jobless Claims 4-week Average	| High	| USD |
| 13:30	| (United States) Continuing Jobless Claims	| High	| USD |
| 13:30	| (Canada) New Housing Price Index YoY	| Medium	| CAD |
| 13:30	| (Canada) New Housing Price Index MoM	| Medium	| CAD |
| 14:05	| (United States) Fed Jefferson Speech	| Medium	| USD |
| 14:30	| (United States) Fed Barr Testimony	| Medium	| USD |
| 15:00	| (United States) Existing Home Sales MoM	| High	| USD |
| 15:00	| (United States) Existing Home Sales	| High	| USD |
| 15:00	| (United States) CB Leading Index MoM	| Low	| USD |
| 15:00	| (United States) Fed Logan Speech	| Medium	| USD |
| 15:30	| (United States) EIA Natural Gas Stocks Change	| Low	| USD |
| 16:30	| (United States) 8-Week Bill Auction	| Low	| USD |
| 16:30	| (United States) 4-Week Bill Auction	| Low	| USD |
| 18:00	| (United States) 10-Year TIPS Auction	| Low	| USD |
| 20:00	| (El Salvador) Balance of Trade	| Low	| USD |
| 23:45	| (New Zealand) Balance of Trade	| Medium	| NZD |
| 23:45	| (New Zealand) Exports	| Low	| NZD |
| 23:45	| (New Zealand) Imports	| Low	| NZD |
***
**Today's Scenario: -** During early Thursday in Asia, buyers of the US Dollar Index (DXY) are facing challenges in maintaining control at the highest levels seen in seven weeks. The DXY is currently trading near 102.90, retracing from the multi-day high reached late Wednesday.

Previously, the DXY benefited from optimism surrounding the avoidance of a US default and hawkish comments from Federal Reserve (Fed) officials, which propelled it to a nearly two-month high. However, concerns about the ability of policymakers to reach a comprehensive agreement and worries about a potential slowdown in US retail sales are now pressuring buyers of the US Dollar Index.

Please note that this information is for educational purposes only and not financial advice.
***
**Buy Scenario: -** Currently, the US Dollar Index (DXY) is up 0.10% at 102.96. If it manages to break above the level of 103.11, which represents the monthly high on May 17, it could potentially pave the way for further gains towards 105.79, which coincides with the 200-day simple moving average (SMA). Beyond that, the next target would be 105.88, the high reached on March 8, 2023. Till we do not advise to buy US Dollar Index.
***
**Sell Scenario: -** On the downside, the DXY has immediate support at 101.01, representing the weekly low on April 26. If the index weakens further, the next support level to watch is at 100.78, the low reached on April 14, 2023. Ultimately, the psychological level of 100.00 could act as a significant support if breached.

Please note that these are technical levels and should be interpreted in the context of broader market analysis. Till we do not advise to sell in US Dollar Index
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 102.57| - | |R1 103.15|
  | S2 102.27| - | |R2 103.43|	
  | S3 101.99| - | |R3 103.73|


**US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684394516/fx-overflow-assets/zjntklbl7shrtmpqykbl.png)

**Economic Events and Scenario for US ...

Daily Analysis For US Doller Index 18-05-2023

**US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684307502/fx-overflow-assets/qjssd5xvkoxri8zjmctj.png)

**Economic Events and Scenario for US Doller Index**

**Economic Events : -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:00	| (United States) Fed Bostic Speech	| Medium	| USD |
| 00:50	| (Japan) GDP Price Index YoY	| Low	| JPY |
| 00:50	| (Japan) GDP Capital Expenditure QoQ	| Low	| JPY |
| 00:50	| (Japan) GDP External Demand QoQ	| Low	| JPY |
| 00:50	| (Japan) GDP Private Consumption QoQ	| Low	| JPY |
| 00:50	| (Japan) GDP Growth Rate QoQ	| High	| JPY |
| 00:50	| (Japan) GDP Growth Annualized	| High	| JPY |
| 02:30	| (Australia) Wage Price Index QoQ	| Low	| AUD |
| 02:30	| (Australia) Wage Price Index YoY	| Low	| AUD |
| 02:30	| (China) House Price Index YoY	| Medium	| CNY |
| 04:35	| (Japan) 20-Year JGB Auction	| Low	| JPY |
| 05:30	| (Japan) Capacity Utilization MoM	| Low	| JPY |
| 05:30	| (Japan) Industrial Production MoM	| Low	| JPY |
| 05:30	| (Japan) Industrial Production YoY	| Low	| JPY |
| 05:30	| (Netherlands) Unemployment Rate	| Medium	| EUR |
| 06:30	|  (France) Unemployment Rate	| Medium	| EUR |
| 07:00	| (European Union) New Car Registrations YoY	| Medium	| EUR |
| 08:00	| (China) FDI (YTD) YoY	| Medium	| CNY |
| 08:00	| (Austria) Harmonised Inflation Rate YoY	| Low	| EUR |
| 08:00	|(Austria) Harmonised Inflation Rate MoM	| Low	| EUR |
| 08:00	| (Austria) Inflation Rate MoM	| Low	| EUR |
| 08:00	| (Austria) Inflation Rate YoY	| Low	| EUR |
| 08:00	| (Austria) CPI	| High	| EUR |
| 08:00	| (Slovakia) Harmonised Inflation Rate YoY	| Low	| EUR |
| 08:00	| (Slovakia) Harmonised Inflation Rate MoM	| Low	| EUR |
| 09:00	| (Italy) Balance of Trade	| Medium	| EUR |
| 10:00	| (Cyprus) Harmonised Inflation Rate YoY	| Low	| EUR |
| 10:00	| (Euro Area) Inflation Rate MoM	| Low	| EUR |
| 10:00	| (Euro Area) Core Inflation Rate YoY	| Low	| EUR |
| 10:00	| (Euro Area) Inflation Rate YoY	| Medium	| EUR |
| 10:00	| (Euro Area) CPI	| High	| EUR |
| 10:00	| (France) 5-Year OAT Auction	| Low	| EUR |
| 10:00	| (France) 3-Year OAT Auction	| Low	| EUR |
| 10:00	| (Malta) Inflation Rate YoY	| Low	| EUR |
| 10:00	| (Euro Area) ECB Elderson Speech	| Low	| EUR |
| 10:30	| (Germany) 10-Year Bund Auction	| Medium	| EUR |
 | 10:30	| (Euro Area) ECB Panetta Speech	| Low	| EUR |
| 10:50	| (United Kingdom) BoE Gov Bailey Speech	| Medium	| GBP |
| 11:00	| (Spain) Consumer Confidence	| Medium	| EUR |
| 11:00	| (Ireland) Residential Property Prices MoM	| Low	| EUR |
| 11:00	| (Ireland) Residential Property Prices YoY	| Low	| EUR |
| 11:00	| (France) 10-Year Index-Linked OAT Auction	| Low	| EUR |
| 11:00	| (Ireland) Balance of Trade	| Low	| EUR |
| 11:10	| (European Union) 3-Month Bill Auction	| Low	| EUR |
| 11:10	| (European Union) 6-Month Bill Auction	| Low	| EUR |
| 11:30	| (United Kingdom) 5-Year Treasury Gilt Auction	| Low	| GBP |
| 12:00	| (United States) MBA 30-Year Mortgage Rate	| Medium	| USD |
| 12:00	| (United States) MBA Mortgage Applications	| Low	| USD |
| 12:00	| (United States) MBA Mortgage Refinance Index	| Low	| USD |
| 12:00	| (United States) MBA Mortgage Market Index	| Low	| USD |
| 12:00	| (United States) MBA Purchase Index	| Low	| USD |
| 13:30	| (Canada) New Motor Vehicle Sales	| Low	| CAD |
| 13:30	| (Canada) Foreign Securities Purchases by Canadians	| Low	| CAD |
| 13:30	| (Canada) Foreign Securities Purchases	| Low	| CAD |
| 13:30	| (United States) Building Permits MoM	| Medium	| USD |
| 13:30	| (United States) Housing Starts MoM	| Medium	| USD |
| 13:30	| (United States) Housing Starts	| Medium	| USD |
| 13:30	| (United States) Building Permits	| High	| USD |
| 15:30	| (United States) EIA Refinery Crude Runs Change	| Low	| USD |
| 15:30	| (United States) EIA Crude Oil Stocks Change	| Medium	| USD |
| 15:30	| (United States) EIA Distillate Stocks Change	| Low	| USD |
| 15:30	| (United States) EIA Heating Oil Stocks Change	| Low	| USD |
| 15:30	| (United States) EIA Gasoline Production Change	| Low	| USD |
| 15:30	| (United States) EIA Crude Oil Imports Change	| Low	| USD |
| 15:30	| (United States) EIA Gasoline Stocks Change	| Medium	| USD |
| 15:30	| (United States) EIA Cushing Crude Oil Stocks Change	| Low	| USD |
| 15:30	| (United States) EIA Distillate Fuel Production Change	| Low	| USD |
| 16:15	| (Euro Area) ECB Guindos Speech	| High	| EUR |
| 16:30	| (United States) 17-Week Bill Auction	| Low	| USD |
| 17:00	| (Canada) 3-Year Bond Auction	| Low	| CAD |
| 18:00	| (United States) 20-Year Bond Auction	| Low	| USD |
| 23:45	| (New Zealand) PPI Input QoQ	| Low	| NZD |
| 23:45	| (New Zealand) PPI Output QoQ	| Low	| NZD |
***
**Today's Scenario: -** The US Dollar Index (DXY) is hovering around 102.60 in early Wednesday trading, showing a reversal of the pullback experienced earlier in the week from its highest levels in five weeks. The index's performance reflects positive US economic data, hawkish statements from the Federal Reserve (Fed), and positive developments regarding the US debt ceiling issue.

A meeting between US President Joe Biden and top congressional Republican Kevin McCarthy lasted only an hour but raised hopes of a positive outcome as congressional leaders stated that it is possible to reach a deal by the end of the week. In response to this news, the one-year US Credit Default Swap (CDS) spreads, as reported by S&P Global Market Intelligence, fell from 164 basis points (bps) to 155 bps. The spreads on five-year CDS also decreased from 72 bps to 69 bps on Monday, according to Reuters.

Overall, the US Dollar Index's movements reflect the positive sentiment surrounding upbeat US data, hawkish Fed comments, and the potential resolution of the US debt ceiling issue.
***
**Buy Scenario: -** If the rally extends and the price surpasses 102.31, it will indicate increased buying strength, with the next major target at 103.29.

On the other hand, if the price drops below 102.01, it will indicate weakness in the market. Till we do not advise to buy US Dollar Index.
***
**Sell Scenario: -** The primary trend for the US Dollar Index (DXY) is upward. The trend shifted to an upward direction on Friday when buyers pushed the price above 102.18, and it was confirmed on Monday as buying continued and surpassed 102.48, reaching 102.58. However, if the price falls below 101.82, the main trend will change to a downward direction. Till we do not advise to sell in US Dollar Index
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 102.31| - | |R1 102.80|
  | S2 102.01| - | |R2 102.99|	
  | S3 101.82| - | |R3 103.29|


**US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684307502/fx-overflow-assets/qjssd5xvkoxri8zjmctj.png)

**Economic Events and Scenario for US ...

Daily Analysis For US Doller Index 17-05-2023

 **US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684221578/fx-overflow-assets/prdtsnrg9zioekqsunsw.png)

**Economic Events and Scenario for US Doller Index**

**Economic Events : -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 01:30	| (Australia) Westpac Consumer Confidence Index	| High	| AUD |
| 01:30	| (Australia) Westpac Consumer Confidence Change	| High	| AUD |
| 02:30	| (Australia) RBA Meeting Minutes	| High	| AUD |
| 03:00	| (China) Unemployment Rate	| High	| CNY |
| 03:00	| (China) Retail Sales YoY	| High	| CNY |
| 03:00	| (China) Industrial Production YoY	| High	| CNY |
| 03:00	| (China) Fixed Asset Investment (YTD) YoY	| Medium	| CNY |
| 06:00	| (Finland) GDP YoY	| Low	| EUR |
| 06:00	| (Finland) GDP Growth Rate QoQ	| Low	| EUR |
| 06:00	| (Finland) GDP Growth Rate YoY	| Low	| EUR |
| 07:00	| (United Kingdom) HMRC Payrolls Change	| Low	| GBP |
| 07:00	| (United Kingdom) Average Earnings excl. Bonus (3Mo/Yr)	| Low	| GBP |
| 07:00	| (United Kingdom) Average Earnings incl. Bonus (3Mo/Yr)	| Medium	| GBP |
| 07:00	| (United Kingdom) Unemployment Rate	| High	| GBP |
| 07:00	| (United Kingdom) Claimant Count Change	| High	| GBP |
| 07:00	| (United Kingdom) Employment Change	| High	| GBP |
| 07:00	| (United Kingdom) Labour Productivity QoQ	| Low	| GBP |
| 08:00	| (China) FDI (YTD) YoY	| Medium	| CNY |
| 08:00	| (Slovakia) GDP Growth Rate YoY	| Low	| EUR |
| 08:00	| (Slovakia) GDP Growth Rate QoQ	| Low	| EUR |
| 08:30	| (Netherlands) Household Consumption YoY	| Low	| EUR |
| 08:30	| (Netherlands) GDP Growth Rate QoQ	| Medium	| EUR |
| 08:30	| (Netherlands) GDP Growth Rate YoY	| Medium	| EUR |
| 08:30	| (Netherlands) Balance of Trade	| Low	| EUR |
| 09:00	| (European Union) ECOFIN Meeting	| Medium	| EUR |
| 09:00	| (France) IEA Oil Market Report	| Medium	| EUR |
| 09:00	| (Italy) Inflation Rate MoM	| Low	| EUR |
| 09:00	| (Italy) Harmonised Inflation Rate MoM	| Low	| EUR |
| 09:00	| (Italy) Inflation Rate YoY	| Medium	| EUR |
| 09:00	| (Italy) Harmonised Inflation Rate YoY	| Low	| EUR |
| 09:00	| (Italy) CPI	| High	| EUR |
| 09:40	| (Spain) 3-Month Letras Auction	| Low	| EUR |
| 10:00	| (Cyprus) GDP Growth Rate YoY	| Low	| EUR |
| 10:00	| (Cyprus) GDP Growth Rate QoQ	| Low	| EUR |
| 10:00	| (Euro Area) GDP Growth Rate YoY	| Medium	| EUR |
| 10:00	| (Euro Area) GDP Growth Rate QoQ	| Medium	| EUR |
| 10:00	| (Euro Area) Employment Change QoQ	| High	| EUR |
| 10:00	| (Euro Area) Employment Change YoY	| High	| EUR |
| 10:00	| (Euro Area) Balance of Trade	| Medium	| EUR |
| 10:00	| (Euro Area) ZEW Economic Sentiment Index	| Medium	| EUR |
| 10:00	| (Germany) ZEW Current Conditions	| Low	| EUR |
| 10:00	| (Germany) ZEW Economic Sentiment Index	| High	| EUR |
| 10:00	| (Montenegro) Inflation Rate MoM	| Low	| EUR |
| 10:00	| (Montenegro) Harmonised Inflation Rate YoY	| Low	| EUR |
| 10:00	| (Montenegro) Inflation Rate YoY	| Low	| EUR |
| 13:15	| (United States) Fed Mester Speech	| Medium	| USD |
| 13:30	| (Canada) Manufacturing Sales MoM	| Low	| CAD |
| 13:30	| (Canada) Core Inflation Rate MoM	| Low	| CAD |
| 13:30	| (Canada) Core Inflation Rate YoY	| Medium	| CAD |
| 13:30	| (Canada) Inflation Rate MoM	| Medium	| CAD |
| 13:30	| (Canada) Inflation Rate YoY	| High	| CAD |
| 13:30	| (Canada) CPI Trimmed-Mean YoY	| High	| CAD |
| 13:30	| (Canada) CPI Median YoY	| High	| CAD |
| 13:30	| (United States) Retail Sales Ex Gas/Autos MoM	| High	| USD |
| 13:30	| (United States) Retail Sales YoY	| High	| USD |
| 13:30	| (United States) Retail Sales Ex Autos MoM	| High	| USD |
| 13:30	| (United States) Retail Sales MoM	| High	| USD |
| 13:55	| (United States) Redbook YoY	| Low	| USD |
| 13:55	| (United States) Fed Bostic Speech	| Medium	| USD |
| 14:15	| (United States) Manufacturing Production MoM	| Low	| USD |
| 14:15	| (United States) Industrial Production MoM	| Medium	| USD |
| 14:15	| (United States) Industrial Production YoY	| Medium	| USD |
| 14:15	| (United States) Manufacturing Production YoY	| Low	| USD |
| 14:15	| (United States) Capacity Utilization	| Low	| USD |
| 14:45	| (Euro Area) ECB Tuominen Speech	| Low	| EUR |
| 15:00	| (United States) Retail Inventories Ex Autos MoM	| Low	| USD |
| 15:00	| (United States) Business Inventories MoM	| Medium	| USD |
| 15:00	| (United States) NAHB Housing Market Index	| Medium	| USD |
| 15:00	| (United States) Fed Barr Testimony	| Medium	| USD |
| 15:00	| (Euro Area) ECB President Lagarde Speech	| Medium	| EUR |
| 16:00	| (New Zealand) Global Dairy Trade Price Index	| Low	| NZD |
| 16:30	| (United States) 52-Week Bill Auction	| Low	| USD |
| 17:15	| (United States) Fed Williams Speech	| Medium	| USD |
| 20:15	| (United States) Fed Logan Speech	| Medium	| USD |
| 21:30	| (United States) API Crude Oil Stock Change	| Medium	| USD |
***
**Today's Scenario: -** On Monday, the US dollar saw a significant increase in value against other major currencies, reaching its highest level in five weeks. This rise was driven by concerns surrounding inflation in the US and global economic growth.

The dollar had already experienced notable gains throughout the previous week, and its upward trend continued, surpassing levels not seen since April 10. Although it slightly retraced later in the day, it remains relatively strong.

In the past week alone, the dollar has gained 1.4%. Traders believe that the currency is currently undervalued and anticipate that the dollar index, which measures its value against other major currencies, will reach 104 by the end of June.

As of 05:51 GMT, June U.S. Dollar Index futures are trading at 102.430, showing a decline of 0.079 or -0.08%. This is a slight drop from the intraday high of 102.585. On Friday, the Invesco DB US Dollar Index Bullish Fund ETF (UUP) closed at $28.10, marking an increase of $0.18 or +0.63%.
***
**Buy Scenario: -** The US Dollar Index (DXY) reached fresh monthly highs near 102.80 on Monday but quickly retraced its gains. For the bullish momentum to continue, the index would need to surpass the previous weekly high at 102.80, which was recorded on April 10. If this level is breached, it could potentially pave the way for a visit to the April high at 103.05, which was reached on April 3. Till we do not advise to buy US Dollar Index.
***
**Sell Scenario: -** On the downside, there is currently strong support around the 101.00 level, acting as a significant barrier.

Taking a broader perspective, as long as the index remains below the 200-day Simple Moving Average (SMA), which is currently positioned at 105.83, the overall outlook for the index is expected to remain negative. Till we do not advise to sell in US Dollar Index
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 102.29| - | |R1 102.68|
  | S2 102.13| - | |R2 102.91|	
  | S3 101.90| - | |R3 103.07|


 **US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684221578/fx-overflow-assets/prdtsnrg9zioekqsunsw.png)

**Economic Events and Scenario for US...

Daily Analysis For US Doller Index 16-05-2023

undefined![Description](https://res.cloudinary.com/forex-overflow/image/upload/v1664186153/fx-overflow-assets/s275ebj1nsmsdpxkr68d.png)

As on 26/09/2022 USD-INDEX has given out a strong opening. Since the day beginning it has surpassed all resistance levels and has only 20% room to break third resistance level which standard is 115.269. The dollar has been trending its positions across the world. Seeing the economic conditions in Europe and the war triggers from Russia and Ukraine has led to American Dollar uprising undefended.

Tehchnical Analysis :-  RSI on daily basis stands very strong at 77 level based on which we can clearly confirm that shorting dollar index today may trigger losses its preferred that we choose the process of buying on dips. Whenever RSI comes down nearby 50 levels  and price is above 20 ema once may choose to enter long. 


undefined![Description](https://res.cloudinary.com/forex-overflow/image/upload/v1664186153/fx-overflow-assets/s275ebj1nsmsdpxkr68d.png)

As on 26/09/2022 USD-INDEX has given out a strong opening. Sinc...

Technical Analysis 26-09-2022

![Description](https://res.cloudinary.com/forex-overflow/image/upload/v1663918368/fx-overflow-assets/xbs5neerjk5js5fhgzi3.jpg)

As on 23rd of September 2 022, we can clearly find out that gold is currently trading below its previous support levels and is unable to lift its weight up to 58 levels. However, the main focus of us today should be on the economic event which shall be releasing out in next six hours and 22 minutes which is S&P global manufacturing, PMI reports and respectively. After 10 hours 36 minutes in which Federal reserve chairman Powell speech would indicate their new plans to counter inflation.

Technically speaking one can clearly see RSI is below 50 and currently stands at 35 level and on the contraband for dollar index are such a strong since yesterday of 64 mark. Also on the contrary in the price of gold is trading below 20 and dollar index is trading strongly much above 20 EMA as I speak currently dollar index is at 52 weeks high which interns gives us a signal. The dollar has been making higher highs. Since last 15 days. One could clearly see gold could find it support around 1600 levels on week to week basis, shorting today would lead to take profit levels of 1650 and 1625 for buying limits. Anything above 1690 is feasible which is hard to cover today

![Description](https://res.cloudinary.com/forex-overflow/image/upload/v1663918368/fx-overflow-assets/xbs5neerjk5js5fhgzi3.jpg)

As on 23rd of September 2 022, we can clearly find out that gold is curr...

XAUUSD/GOLD Daily Analysis 23-09-2022

![Description](https://res.cloudinary.com/forex-overflow/image/upload/v1663916749/fx-overflow-assets/vgxtzalfwokcckvyfivz.jpg)

As on 23rd of September 2022, we could clearly find EURUSD is under heavy selling pressure from past four days. It has clearly broken its pilot and support first stage and selling pressure looms on it which is being confirmed by 20 EMI is at a far distance, even if we check the RSI is clearly downward facing 34 value mark clearly showing the strength is weakening. On the other hand. 

The contra trend of dollar index is at the verge to hit 112 mark again duly supported by RSI above 60 on daily basis and the price remains above 20 year me clearly showcases that EURUSD may further weaken to some extent & may find support at 0.96000 levels.



![Description](https://res.cloudinary.com/forex-overflow/image/upload/v1663916749/fx-overflow-assets/vgxtzalfwokcckvyfivz.jpg)

As on 23rd of September 2022, we could clearly find EURUSD is under heav...

EURUSD Technical Analysis 23-09-2022

![Description](https://res.cloudinary.com/forex-overflow/image/upload/v1663911267/fx-overflow-assets/nkfeh3bp8lxkn5gdkzlg.png)

New impact :  United States Fed Chair Powell Speech 

Technical Analysis :- 
USDCAD is making its new highs, as its unable to break down its previous resistance levels, also we could see a confusing candle formation on 22-09-2022, so technically, we can trade on the previous day candle high low, we could sell below 1.34117 and buy above 1.35463 .SL for the current trade is vice versa entry positions.

RSI IS flat but above 70, shows strength in trend of the day. 
Buy Scenario is more Preferable. 

USD index is boosting the Strength of the USDCAD pair. 


![Description](https://res.cloudinary.com/forex-overflow/image/upload/v1663911267/fx-overflow-assets/nkfeh3bp8lxkn5gdkzlg.png)

New impact :  United States Fed Chair Powell Speech 

Technical Analysis...

USDCAD 23-09-2022 Daily Analysis

![Description](https://res.cloudinary.com/forex-overflow/image/upload/v1663865519/fx-overflow-assets/vj6toimtrdf32k8tbqj7.jpg)


As we can clearly see dollar index is strong enough to hold 110 levels. Clearly it can be found out that the pair USDCAD is gaining new highs, yesterdays Federal interest increment in its percentage did weaken the pair but a strong demand for Dollar still awaits new heights.

What is your clearly see above 60 for the day it’s flat but it’s about 60 which means the strength in the trend exists so shorting Care on daily basis. Below the breach of 1.34000 can bring substantial risk. However, buying a dips could bring in some profits subject to the Support is taken above 20 year me and closing is given above 20 EMA .

From the technical analysis perspective, we could also see USDCAD is able to survive above the second resistance level , which stood at 1.34000. However it did retrace early mornings of the Asian session from its third resistance of 1.35500 so we expect USDCAD to be range bound today between 1.34000 to top end of 1.35500.

![Description](https://res.cloudinary.com/forex-overflow/image/upload/v1663865519/fx-overflow-assets/vj6toimtrdf32k8tbqj7.jpg)


As we can clearly see dollar index is strong enough to hold 110 levels....

Newest & Recent

Find the lastest update

Popular of the day

Most watched posts

Forex Glossary

A to Z Forex abbreviations

Daily Analysis

Industry Experts posts

Pinned Tags

#trade360

#finexo

#fxtrading.com

#sky alliance markets

#amega

#ospreyfx

#fxglory

#fibo group

#ig global

#bdswiss

#lcg

#fxgrow

#legacyfx

#superforex

#simplefx

#rakuten securities

#ifc markets

#triumphfx

#world forex

#amana capital

dxy

17 articles published related to#dxy

US Dollar Index Analysis: Recovery Stalls amid Fed Concerns-...