Daily Analysis For US Doller Index 05-04-2023

Daily Analysis For US Doller Index 05-04-2023

US Doller Index Analysis
US Doller Index
Economic Events and Scenario for US Doller Index
Economic Events : -
GMTEventImpactCurrency
00:00(Australia) Ai Group Industry IndexMediumAUD
00:00(Australia) Judo Bank Services PMIHighAUD
00:00(Australia) Judo Bank Composite PMILowAUD
00:00(Australia) Ai Group Construction IndexLowAUD
00:00(Australia) Ai Group Manufacturing IndexLowAUD
01:00(China) Qingming FestivalNoneCNY
01:01(Ireland) AIB Services PMILowEUR
01:30(Japan) Jibun Bank Services PMIMediumJPY
01:30(Japan) Jibun Bank Composite PMILowJPY
02:30(Australia) RBA Chart PackLowAUD
03:00(New Zealand) RBNZ Interest Rate DecisionMediumNZD
03:30(Australia) RBA Gov Lowe SpeechHighAUD
07:00(Germany) Factory Orders MoMMediumEUR
07:45(France) Industrial Production MoMMediumEUR
08:00(Spain) Industrial Production YoYLowEUR
08:15(Spain) S&P Global Composite PMILowEUR
08:15(Spain) S&P Global Services PMIHighEUR
08:45(Italy) S&P Global Services PMIHighEUR
08:45(Italy) S&P Global Composite PMILowEUR
08:50(France) S&P Global Services PMIMediumEUR
08:50(France) S&P Global Composite PMILowEUR
08:55(Germany) S&P Global Services PMIHighEUR
08:55(Germany) S&P Global Composite PMILowEUR
09:00(Germany) New Car Registrations YoYLowEUR
09:00(Euro Area) S&P Global Composite PMILowEUR
09:00(Euro Area) S&P Global Services PMIHighEUR
09:00(United Kingdom) New Car Sales YoYLowGBP
09:30(United Kingdom) S&P Global/CIPS UK Services PMIHighGBP
09:30(United Kingdom) S&P Global/CIPS Composite PMILowGBP
10:00(France) New Car Registrations YoYLowEUR
10:00(Italy) Retail Sales YoYHighEUR
10:00(Italy) Retail Sales MoMHighEUR
10:00(Cyprus) Construction Output YoYLowEUR
10:00(Cyprus) Current AccountLowEUR
10:30(Germany) 7-Year Bund AuctionLowEUR
11:00(Luxembourg) Inflation Rate YoYLowEUR
11:00(Luxembourg) Inflation Rate MoMLowEUR
11:00(Spain) Consumer ConfidenceMediumEUR
11:00(Ireland) Unemployment RateLowEUR
11:10(European Union) 6-Month Bill AuctionLowEUR
11:10(European Union) 3-Month Bill AuctionLowEUR
12:00(United States) MBA 30-Year Mortgage RateMediumUSD
12:00(United States) MBA Mortgage ApplicationsLowUSD
12:00(United States) MBA Mortgage Market IndexLowUSD
12:00(United States) MBA Mortgage Refinance IndexLowUSD
12:00(United States) MBA Purchase IndexLowUSD
13:15(United States) ADP Employment ChangeHighUSD
13:30(Canada) ImportsLowCAD
13:30(Canada) ExportsLowCAD
13:30(Canada) Balance of TradeHighCAD
13:30(United States) ExportsMediumUSD
13:30(United States) ImportsMediumUSD
13:30(United States) Balance of TradeHighUSD
14:45(United States) S&P Global Composite PMIMediumUSD
14:45(United States) S&P Global Services PMIHighUSD
15:00(United States) ISM Non-Manufacturing Business ActivityLowUSD
15:00(United States) ISM Non-Manufacturing PricesLowUSD
15:00(United States) ISM Non-Manufacturing New OrdersLowUSD
15:00(United States) ISM Non-Manufacturing EmploymentMediumUSD
15:00(United States) ISM Non-Manufacturing PMIHighUSD
15:00(Euro Area) ECB Lane SpeechLowEUR
15:30(United States) EIA Refinery Crude Runs ChangeLowUSD
15:30(United States) EIA Crude Oil Stocks ChangeMediumUSD
15:30(United States) EIA Heating Oil Stocks ChangeLowUSD
15:30(United States) EIA Gasoline Production ChangeLowUSD
15:30(United States) EIA Distillate Stocks ChangeLowUSD
15:30(United States) EIA Crude Oil Imports ChangeLowUSD
15:30(United States) EIA Gasoline Stocks ChangeMediumUSD
15:30(United States) EIA Cushing Crude Oil Stocks ChangeLowUSD
15:30(United States) EIA Distillate Fuel Production ChangeLowUSD
16:30(United States) 17-Week Bill AuctionLowUSD
17:00(Canada) 10-Year Bond AuctionLowCAD
Today's Scenario: - On Wednesday, the USD Index (DXY) is trading slightly higher and appears to be attempting to stabilize after its recent decline. The DXY measures the value of the US dollar against a basket of major currencies.
Buy Scenario: - The US Dollar Index's recovery prospects remain uncertain unless it manages to stabilize above its previous support line from January 2022, which is located close to 101.75 as of the time of writing. Until this level is firmly established as support, any rally attempts may prove short-lived and lack the necessary momentum to sustain a meaningful uptrend.Till we do not advise to buy US Dollar Index.
Sell Scenario: - The US Dollar Index is currently under pressure, with the oversold RSI (14) indicating that it is in bear territory. To keep an eye on the currency's trajectory, it is important to monitor the ascending support line that has been in place for the past year at around 101.35. This level is critical for the bears, as a breach could lead to further declines. Till we do not advise to sell in US Dollar Index
Support and Resistance Level: -
SupportResistance
S1 101.27-R1 102.09
S2 100.96-R2 102.59
S3 100.45-R3 102.90

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