The US Dollar (USD) showcasing its resilience last week might leave traders and investors wrongfooted to start the coming week. Headline inflation mig
The Greenback was able to print a weekly gain on Friday. A lighter week begins with only Retail Sales and Powell’s speech as focal points. The US Dollar Index was unable to print a new weekly high and might still reverse. ht have ticked up a touch, pressing the market’s nerves with rates soaring back to 52-week highs as a result. Although the US Dollar Index eked out a weekly gain on Thursday and Friday, it was yet again a very close call as the Greenback rally stutters here on Monday.
88 did not do a good job supporting any downturn. Instead, look for 105.12 to keep the DXY above 105.00. If that does not do the trick, 104.33 will be the best level to look for some resurgence in US Dollar strength with the 55-day Simple Moving Average as a support level.
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