All articles tagged with #us dollar index
Originally Published 7 months ago — by MarketWatch
The US dollar has fallen to a three-year low, with technical indicators suggesting further decline, potentially leading to a breakdown. While some signs hint at a possible rebound, overall momentum and historical patterns indicate more downside risk, especially amid geopolitical and economic factors such as the 'revenge tax' and international hedging activities.
Originally Published 7 months ago — by Reuters
The US dollar rose against major currencies after a court blocked Trump's tariffs, providing temporary relief amid ongoing trade uncertainties, though analysts remain cautious about a sustained rally due to legal and policy uncertainties.
Originally Published 1 year ago — by The Daily Hodl
Glassnode co-founders predict Bitcoin will reach new all-time highs if the US Dollar Index (DXY) declines due to the Federal Reserve's rate-cutting and quantitative easing. A weaker DXY typically leads investors to favor risk assets like Bitcoin. Currently, Bitcoin is trading at $89,200, slightly below its all-time high. Meanwhile, Ethereum shows market strength despite a decline against Bitcoin, with its market cap remaining relatively stable.
Originally Published 1 year ago — by The Daily Hodl
Crypto analyst Justin Bennett warns that Bitcoin could see a further 20% drop based on the Tether dominance chart, despite its recent rally to around $42,000, with a potential downside target of $30,000. He also notes that a strong US dollar index suggests a bullish reversal, which could put pressure on risk assets like stocks and crypto. Bennett's analysis indicates that investors may be moving their money into the US dollar and away from Bitcoin and other cryptocurrencies.
Originally Published 2 years ago — by Kitco NEWS
Gold prices are slightly higher as U.S. Treasury yields decline, providing support for the gold and silver market bulls. Traders and investors are awaiting key U.S. economic data, including the U.S. employment situation report, while the U.S. dollar index is slightly down. Technically, gold and silver futures prices have shown signs of a near-term market top, but the bulls still have the overall near-term technical advantage. Copper prices closed slightly lower, with the copper bulls appearing exhausted.
Originally Published 2 years ago — by Kitco NEWS
Gold and silver prices are lower due to gains in the US dollar index and losses in crude oil, as well as improved risk appetite in the market. The US stock indexes are higher, while the yield on the US Treasury 10-year note is at 4.428%. The minutes from the last Federal Reserve meeting noted the risk of higher-than-expected inflation and weaker-than-expected US economic growth, suggesting that the Fed will continue to pause on rate hikes. Technically, gold and silver futures have near-term advantages for the bulls.
Originally Published 2 years ago — by Kitco NEWS
Gold and silver prices rebounded as the US dollar weakened and crude oil prices rallied modestly. The market is monitoring Fed Chairman Jerome Powell's speech for any hints on US monetary policy. China's consumer and producer inflation slipped into deflationary territory, increasing expectations for more government stimulus. Technically, gold and silver futures have slight overall near-term advantages, but bears have the slight advantage in silver. Copper prices closed higher but bears have the overall near-term advantage.
Originally Published 2 years ago — by Kitco NEWS
Gold and silver prices are experiencing a pullback due to corrective and consolidative price pressure, influenced by a higher U.S. dollar index and an increase in U.S. Treasury yields. The Middle East situation remains a potential market disruptor. The U.S. dollar index is higher, while crude oil prices are steady. Technical analysis shows that gold and silver futures are trending higher, with bulls having the near-term advantage. Economic data due for release includes retail sales, PMIs, and the Richmond Fed business activity survey.
Originally Published 2 years ago — by Cointelegraph
The US Dollar Index (DXY) has reached its highest level in almost 10 months, indicating growing confidence in the US dollar compared to other fiat currencies. This surge in demand for the dollar has raised concerns about its potential impact on Bitcoin and cryptocurrencies. However, the relationship between the DXY and Bitcoin is not straightforward. While a stronger dollar may lead to reduced demand for risk-on assets like Bitcoin, increased liquidity in the markets due to inflation and recession pressures could favor Bitcoin as investors seek refuge in alternative assets. Therefore, the DXY's golden cross may not necessarily be a net negative for Bitcoin, especially on longer timeframes.
Originally Published 2 years ago — by Kitco NEWS
Gold and silver prices are slightly down as U.S. Treasury yields rise and the U.S. dollar index hovers near a 6.5-month high. Traders and investors are in a risk-off mood due to the potential for a U.S. government shutdown. The overall near-term technical advantage is with the bears in both the gold and silver markets.
Originally Published 2 years ago — by Cointelegraph
Analysts predict that Bitcoin could reach $22,000 soon, citing factors such as worsening investor sentiment after Grayscale Investment's legal victory against the SEC and the postponement of Bitcoin exchange-traded fund applications. The SEC's lawsuits against Binance and Coinbase, along with potential money laundering indictments, are also contributing to bearish sentiment. BitMEX co-founder Arthur Hayes claims that the Bitcoin bull market began in March, with the Silicon Valley Bank fallout and U.S. Treasury Department intervention as turning points. Despite concerns about the U.S. Dollar Index, investors view the U.S. dollar as a safe option in the event of a global economic recession.
Originally Published 2 years ago — by Kitco NEWS
Gold prices are down and hit a five-month low as U.S. Treasury yields continue to rise, reaching their highest level in 15 years. The strengthening U.S. dollar index is also contributing to the bearish sentiment. The minutes from the Federal Reserve's last meeting indicated a commitment to reducing U.S. inflation, further pushing up Treasury yields and the dollar. Additionally, China's central bank announced plans to provide stimulus to its economy and prevent further depreciation of the yuan, which has been impacting the precious metals market due to weaker demand concerns.
Originally Published 2 years ago — by Kitco NEWS
Gold and silver prices rally and reach three-week highs after a tamer-than-expected U.S. inflation report, with the consumer price index for June rising 3.0% year-on-year, slightly lower than the expected 3.1%. The U.S. dollar index drops, stock indexes rise, and U.S. Treasury yields fall in response to the positive CPI data. Technical analysis shows that both gold and silver futures have gained momentum and negated previous downtrends, with bulls aiming for higher price objectives.
Originally Published 2 years ago — by Kitco NEWS
Gold and silver prices surge due to a lower US dollar index and a dip in US Treasury yields. The market is focusing on next week's FOMC meeting of the Federal Reserve, with many market watchers thinking the US central bank will follow the Bank of Canada's recent moves. The Euro zone technically entered a recession in the first quarter, albeit just barely. The Turkish lira hit a new record low against the US dollar, prompting worries of a possible currency contagion.
Originally Published 2 years ago — by Kitco NEWS
Gold and silver prices are slightly up in early US trading, supported by a lower US dollar index and firmer crude oil prices. Traders are waiting for the next major fundamental input to drive the metals markets, which may come after next week's FOMC meeting of the Federal Reserve. The Euro zone has technically entered a recession in the first quarter, and the Turkish lira hit a new record low against the US dollar. The US dollar index is weaker, Nymex crude oil prices are firmer, and the benchmark 10-year US Treasury note yield is presently fetching 3.811%.