US Greenback Eyes Fed Chair Powell, Stimulus
US DOLLAR OUTLOOK: EUR/USD PRICE ACTION HINGES ON POWELL TESTIMONY, BIDEN STIMULUS DEAL
- EUR/USD value motion advancing towards month-to-month highs following its current consolidation
- DXY Index below stress as soon as once more as bulls give up the 50-day easy transferring common
- US Greenback appears to be like to Treasury yields, stimulus negotiations, and Fed Chair Powell for course
- Sharpen your technical analysis expertise or find out about implied volatility buying and selling methods!
The US Greenback is buying and selling on its again foot to start out the week. US Greenback promoting stress was felt throughout most main foreign money pairs like EUR/USD, GBP/USD, and USD/JPY. Regardless of tepid threat urge for food for equities throughout the session, it seems that the most recent stretch of US Greenback weak point largely follows the prevailing reflation trade theme as sovereign yields climb and crude oil soars. On steadiness, the broader DXY Index dropped -0.3% to the 90.10-price degree.
US DOLLAR INDEX PRICE CHART: DAILY TIME FRAME (25 NOV 2020 TO 22 FEB 2021)