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DXY ends week lower, still above 96.40

  • Volatile week for financial markets about to end with gains in Wall Street and losses for the US dollar. 
  • DXY points to the downside but remains in a range. 

The US dollar is about to end the week with modest losses across the board. On Friday it continued with the slide that started late on Wednesday. The USD Dollar index bottomed at 96.20, the lowest level in a week. During the US session trimmed losses, and it was about to end the week hovering around 96.40.

The DXY held above the 96.00 zone and also on top of 96.20, signaling a continuation of the current range. It moved sideways during the week, limited by 97.00. The chart shows risks titled to the downside but as long as it holds on top of 96.20/00, the losses look limited. 

Wall Street on Friday was consolidating the recovery from multi-month lows and about to end the week in positive territory after a post-Christmas rally that included the biggest one-day gains since 2009.  The mood across financial markets improved. Volatile remains high, however, eased on Friday. 

The dollar peaked at the same time the Dow Jones bottomed. Afterward, both reversed its trend, but the greenback more moderately. “The USD depreciated during the week, and the EUR benefited from its weakness. Safe-haven flows were also present in currency markets, and the JPY and the CHF appreciated significantly during the week while the GBP ended the week broadly unchanged, as recent developments seemed to push the Brexit issue to the background, at least momentarily,” said BBVA analysts. 

Low volume is likely to continue until next Wednesday, the day after New Year. Next Friday, the US employment report is due. According to the Wall Street Journal media, the Department of Commerce’s Bureau of Economic Analysis and Census Bureau will not publish economic data during the government shutdown, but the Labor Department will continue to release data. 

 

 

Dollar Index Spot

Overview:
    Today Last Price: 96.39
    Today Daily change: -20 pips
    Today Daily change %: -0.207%
    Today Daily Open: 96.59
Trends:
    Previous Daily SMA20: 96.97
    Previous Daily SMA50: 96.78
    Previous Daily SMA100: 96.01
    Previous Daily SMA200: 94.56
Levels:
    Previous Daily High: 97.06
    Previous Daily Low: 96.41
    Previous Weekly High: 97.46
    Previous Weekly Low: 96.17
    Previous Monthly High: 97.7
    Previous Monthly Low: 95.68
    Previous Daily Fibonacci 38.2%: 96.66
    Previous Daily Fibonacci 61.8%: 96.81
    Previous Daily Pivot Point S1: 96.31
    Previous Daily Pivot Point S2: 96.04
    Previous Daily Pivot Point S3: 95.66
    Previous Daily Pivot Point R1: 96.96
    Previous Daily Pivot Point R2: 97.34
    Previous Daily Pivot Point R3: 97.61

 

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