The U.S. dollar index fluctuates in a narrow range and the trading range is limited by the moving averages.

August 10, 2023

At the end of Thursday (March 22) in the Asian market, the US dollar index oscillated in a narrow range, and the overall trend of the day was still continuing within a narrow range.

Since last Friday (March 16) New York session, the dollar index into a narrow finishing market, trading range 79.30-79.90, respectively, for the 100-day moving average and 10-day moving average cut into bits level.

The Japanese K-line chart shows that the MACD long-period line and the short-term cycle line are sticking, indicating that the range-bound shock market is expected to continue for the rest of the week.

However, the dollar medium-term trend is still bullish, and may soon resume its uptrend, due to the pace of the US economic recovery was significantly better than other major economies, and the recent market seems to be worried about further Greek footsteps of Portugal "repeatedly mention unhappy", plus After several days of technical adjustments, the downward adjustment caused by the recent overbought need to be fully alleviated.

In an overnight testimony at the parliament, Bernanke said that the Fed currently holds some high-quality sovereign debt and has not considered purchasing sovereign debt. Bernanke pointed out that as the economy grows, interest rates will rise and the dollar will respond to changes in interest rates. Bernanke also stated that the Fed’s policy did not harm the value of the dollar and that the task of the Fed’s meeting would help ensure a strong dollar.

Singing has always been the dollar's Pacific Investment Management Company (Pacific Investment Management Co, referred to as Pimco) Thursday a fresh start, turn bullish about the dollar's short-term trend in the rest of the year, because the US growth performance than the eurozone, the UK and many other countries better.

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20:30 GMT, will be published last week (to 0317) US initial jobless claims, expected to be 35.4 million, the previous value of 35.1 million; 22:00 GMT, the US will be released in February Conference Board leading indicators expected The monthly rate rose by 0.6%, and the previous value rose by 0.4%.

Author:

Ms. eleven

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