DXY: Bullish momentum on daily chart intact – OCBC
The Dollar Index (DXY) rose, taking cues from higher UST yields and the run-up in USD/JPY above 160-mark. Elsewhere, slippage in EUR also added to gains in the DXY. This week, the focus is on PCE core (Fri), OCBC analysts Frances Cheung and Christopher Wong note.
DXY seems bullish ahead of US PCE
“Softer core CPI, PPI readings in May should see core PCE print softer. A weaker than expected print should raise hopes for Federal Reserve (Fed) rate cut. This should also tamper USD gains, but hotter print may continue to fuel USD momentum.”
“DXY was last at 105.84 levels. c while RSI is near overbought conditions. Resistance at 106.20. Support at 105.20 (21, 50 DMAs), 104.80 (61.8% fibo retracement of Oct high to 2024 low).”
“We also note that ½-yearly end and month-end flows may have the potential to distort price action later this week. US presidential debate on Fri may also be of interest to FX and rates markets.”
Related Articles
What to Expect From Microsoft Q4 FY2025 Earnings: The King of AI Monetization — A $4 Trillion Market Cap Within Reach?
TradingKey - Cloud giant Microsoft (MSFT.US) will report its fiscal fourth-quarter 2025 earnings (calendar Q2) after the U.S. market close on July 30. Wall Street is bullish, expecting strong results from Azure cloud services and AI-driven growth to propel Microsoft’s market capitalization toward
U.S. GDP, PCE, and Fed Rate Decision Preview: U.S. Stocks May Continue to Rise
TradingKey - The United States is set to release its latest GDP and PCE data on 30–31 July 2025, with the Federal Reserve’s interest rate decision expected concurrently. Market consensus anticipates that the annualized real GDP growth rate for the second quarter will turn positive
What to Expect From Meta Q2 Earnings: AI Push, Ad Strength — But Can Profitability Hold?
TradingKey - Meta Platforms (META), the parent company of Facebook, Instagram, and WhatsApp, will release its Q2 2025 earnings after the U.S. market close on Wednesday, July 30. After nine consecutive quarters of beating expectations, analysts expect another strong performance — driven by AI-powered
Fed July Meeting Preview: Trade Deal Progress Undermines Hawkish Case — A Turning Point in Sight?
TradingKey - On Wednesday, July 30, the Federal Reserve will announce its latest FOMC rate decision. While no rate cut is expected, this could be the most contentious and pivotal meeting of 2025 so far, with growing signs that the central bank may be nearing a policy shift.
