Daily Analysis For US Doller Index 24-03-2023

Daily Analysis For US Doller Index 24-03-2023

US Doller Index Analysis
US Doller Index
Economic Events and Scenario for US Doller Index
Economic Events : -
GMTEventImpactCurrency
0:01(Ireland) Consumer ConfidenceLowEUR
0:01(United Kingdom) Gfk Consumer ConfidenceHighGBP
0:30(Japan) Jibun Bank Services PMIMediumJPY
0:30(Japan) Jibun Bank Composite PMILowJPY
0:30(Japan) Jibun Bank Manufacturing PMIMediumJPY
3:35(Japan) 3-Month Bill AuctionLowJPY
5:30(Netherlands) GDP Growth Rate QoQMediumEUR
5:30(Netherlands) GDP Growth Rate YoYMediumEUR
6:00(Finland) Import Prices YoYLowEUR
6:00(Finland) PPI YoYLowEUR
6:00(Finland) Export Prices YoYLowEUR
7:00(United Kingdom) Retail Sales MoMHighGBP
7:00(United Kingdom) Retail Sales YoYHighGBP
7:00(United Kingdom) Retail Sales ex Fuel MoMHighGBP
7:00(United Kingdom) Retail Sales ex Fuel YoYHighGBP
8:00(European Union) European Council MeetingMediumEUR
8:00(Spain) PPI YoYLowEUR
8:00(Spain) GDP Growth Rate QoQMediumEUR
8:00(Spain) GDP Growth Rate YoYMediumEUR
8:15(France) S&P Global Composite PMILowEUR
8:15(France) S&P Global Services PMIMediumEUR
8:15(France) S&P Global Manufacturing PMIMediumEUR
8:30(Germany) S&P Global Composite PMILowEUR
8:30(Germany) S&P Global Services PMIHighEUR
8:30(Germany) S&P Global Manufacturing PMIHighEUR
9:00(Euro Area) S&P Global Composite PMILowEUR
9:00(Euro Area) S&P Global Manufacturing PMIHighEUR
9:00(Euro Area) S&P Global Services PMIHighEUR
9:30(Slovenia) Business ConfidenceLowEUR
9:30(Slovenia) Tourist Arrivals YoYLowEUR
9:30(United Kingdom) S&P Global/CIPS Composite PMILowGBP
9:30(United Kingdom) S&P Global/CIPS Manufacturing PMIHighGBP
9:30(United Kingdom) S&P Global/CIPS UK Services PMIHighGBP
9:30(Germany) Bundesbank Nagel SpeechLowEUR
11:00(Luxembourg) Current AccountLowEUR
11:00(Netherlands) Current AccountLowEUR
12:30(Canada) Wholesale Sales MoMLowCAD
12:30(Canada) Retail Sales YoYHighCAD
12:30(Canada) Retail Sales Ex Autos MoMHighCAD
12:30(Canada) Retail Sales MoMHighCAD
12:30(Canada) Manufacturing Sales MoMLowCAD
12:30(United States) Non Defense Goods Orders Ex AirLowUSD
12:30(United States) Durable Goods Orders ex Defense MoMHighUSD
12:30(United States) Durable Goods Orders MoMHighUSD
12:30(United States) Durable Goods Orders Ex Transp MoMHighUSD
13:30(United States) Fed Bullard SpeechMediumUSD
13:45(United States) S&P Global Composite PMIMediumUSD
13:45(United States) S&P Global Services PMIHighUSD
13:45(United States) S&P Global Manufacturing PMIHighUSD
14:00(Belgium) Business ConfidenceLowEUR
16:00(United Kingdom) BoE L Mann SpeechMediumGBP
17:00(United States) Baker Hughes Oil Rig CountLowUSD
17:00(United States) Baker Hughes Total Rig CountLowUSD

Today's Scenario: - The US Dollar Index (DXY) is maintaining its rebound from a multi-day low to 102.65 during early Friday. This means that the index is preventing its biggest weekly loss since early January amid new optimism for higher Federal Reserve (Fed) rates and continued banking turmoil.

Buy Scenario: - The Dollar Index bulls to sustain their momentum, they need to overcome the resistance at the 50-day moving average (DMA) level of 103.45. Till we do not advise to buy US Dollar Index.

Sell Scenario: - The lower band of the Bollinger on the daily chart is currently providing support for the US Dollar Index (DXY) at around 102.30, preventing further downside. Till we do not advise to sell US Dollar Index.

Support and Resistance Level: -
SupportResistance
S1 102.14-R1 102.85
S2 101.67-R2 103.10
S3 101.43-R3 103.57

Discussion

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