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USD Graphic Rewind 05.24

USD Graphic Rewind 05.24

2010-05-24 07:02:00
Jonathan Granby,
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USD INDEX GRAPHIC REWIND

dxy5.24

The dollar index (DXY) ended the week on a relatively quiet note under a tad of pressure as equity markets put in a solid showing. The dollar found itself bid early in Asian trade as EU debt concerns continued to weigh on sentiment, coupled with other geopolitical developments investors shed some riskier assets in favour of the dollar. However, as Asian trade progressed equity and commodity markets turned tentatively higher and the index gave up a portion of its gains. 
 
Looking ahead, all eyes will remain firmly on the euro-region and the debt crisis. Negative developments will lead to further dollar strength, whereas positive news could bolster sentiment and give some of the more beaten down currencies and assets a much needed lift. 
 
 
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 
If you wish to receive Joel's reports in a more timely fashion, e-mail instructor@dailyfx.com and you will be added to the "distribution" list.

 

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