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The dollar index holds in red but within a narrow range in early Wednesday, as traders reduce speed ahead of today’s key events, US labor data and the speech of Fed Chair Powell. Weaker than expected US services PMI in February, released on Tuesday, added to negative sentiment, though dips were again contained by 200DMA […]

The post Dollar Index in Limited Range Ahead of Key Economic Events appeared first on Action Forex.

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12/03/2024

Limited Appetite Ahead of US CPI, Bitcoin at Record

The week started with limited appetite in US stock and a fresh record for Bitcoin. Major US indices were flat on Monday’s trading session. The S&P 500 slid 0.11% as sentiment in technology stocks was mixed. Nvidia tumbled 2% yesterday, but Google gained nearly 2%. The US dollar recovered the post-US jobs data losses, the […]
27/03/2024

Gold: Suspicious Storm of $2200

Gold breached the $2200 mark for the second time in history on Tuesday before retreating to $2182 in early US trading. Cryptocurrencies are trading in the same direction as gold today, but silver, platinum and copper are failing to make similar gains, causing some unease. Gold’s break above $2195 tested the rally high from late […]
06/06/2024

DXY: Upbeat US Services PMI Data Provide Fresh Support to Greenback

The dollar index accelerated higher on Wednesday, following much stronger than expected US services PMI data (May 53.8 vs 51.0 f/c and Apr 49.4) which signaled that services sector returned to growth (May figure hit the highest in nine months) and offset negative signals from downbeat labor reports (JOLTS and ADP). Fresh advance cracked strong […]