We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Gold: 0.30% Oil - US Crude: 0.29% Silver: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/y1BGP7lpSl
  • Black Friday is still a subject for #stock market scrutiny. Which retailers look set to benefit? What can we learn from the price action of past years? Find out: https://t.co/BBKZzw4tGa https://t.co/L4dt016OrZ
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.09% 🇨🇭CHF: -0.15% 🇪🇺EUR: -0.15% 🇳🇿NZD: -0.20% 🇦🇺AUD: -0.25% 🇨🇦CAD: -0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tMMxHanUKU
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: US 500: -0.38% Wall Street: -0.42% France 40: -0.63% Germany 30: -0.88% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/RUZf4o7vRW
  • GBP/USD Develops a Bullish Rectangle – British Pound vs USD Price Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2019/11/20/GBPUSD-Develops-a-Bullish-Rectangle-British-Pound-vs-USD-Price-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/EaZHvdAn6y
  • RT @iv_technicals: Gentle reminder: Nov $VIX futures roll off today; Dec goes in front, currently trading 15.50
  • LIVE NOW! Currency Strategist @PaulRobinsonFX discusses important technical developments relevant to short to intermediate-term commodity and equity index traders here - https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720
  • Lessons from Bretton Woods are forgotten, the US-China #tradewar represents a true existential threat to the post-World War II international trade order, and in turn, the globalized economy that has grown out of the ashes of history. More from @CVecchioFX :https://t.co/paaBxX6Xt0 https://t.co/q4RfSm5E8I
  • LIVE IN 30 MIN: Currency Strategist @PaulRobinsonFX discusses important technical developments relevant to short to intermediate-term commodity and equity index traders here - https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720
  • ECB's De Guindos says monetary policy side effects are becoming more evident $EUR
USD Graphic Rewind: Dollar Index Climbs, May be Forming Short-Term Base

USD Graphic Rewind: Dollar Index Climbs, May be Forming Short-Term Base

2011-03-24 06:58:00
Jonathan Granby,
Share:
USD_Graphic_Rewind_body_dxy3.png, USD Graphic Rewind: Dollar Index Climbs, May be Forming Short-Term Base

The dollar index posted a second consecutive day of gains for the first time in almost 10-days as the euro lost ground amid growing concerns of an impending Portugal bailout. The failure of former PM Socrates to pass the latest round of austerity measures in Portugal has caused renewed fears that the heavily debt burdened nation will need to request a bailout from the EU in order to meet its debt obligations. As the EU summit gets underway today much uncertainty still remains about the outlook of the EMU and despite speculation of imminent rate hikes from the ECB and euro is under relative pressure as the fundamental outlook and growth prospects once again come under the microscope.

On the daily charts we see the possibility of a base forming in the dollar index and a third day of gains on Thursday will certainly go a long way to help solidify this outlook. While this may not mitigate the medium-term outlook for the index which remains skewed to the downside at present it may give the buck some relief in coming days. If the focus on EMU fundamentals starts to outweigh the clamor about rate hikes then we may see a more meaningful shift in structure in the index since, as we have mentioned repeatedly, the US growth outlook is significantly better then the EMU’s.

Written by Jonathan Granby, DailyFX Research Team

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.