Index Top 20 Forex
Forex Index Top 20
Positioning remains bearish on the US Dollar, which still suggests further gains ahead. Where better to trade on forex. Looking for longer-term forecasts on the US Dollar? Check out the. The US Dollar (via the Index) has punctured its early-October peak to set a fresh yearly high today, continuing to ride its uptrend over the past six-weeks built on the back of concerns over Brexit and the Italian debt saga. But for the remainder of today at least, the DXY Index may have some trouble building extending further at its yearly high and highest level since June 2017 as the month comes to a close. Binary options platform download mac.
Notably, the US Dollar has rallied significantly during October, particularly as US equity markets have faced choppy conditions, that rebalancing may yield profit taking in the greenback as portfolio managers shore up positioning in other asset classes that have underperformed. The DXY Index is up +1.96% month-to-date at the time of writing, on track to be the third-best month of 2018 for the DXY Index and the third-best October over the past decade.
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It's worth noting that this is not a quarter-end rebalancing, so the effect will be smaller than what was seen at the end of June or September. Overall, the threat of a short-term rebalancing overhang aside, the US Dollar stands to benefit as simmering issues abroad are overshadowing any concerns with the US economy (notably, the housing market) or the Fed's path of rate hikes (the Fed's recent dot plot outlined one more hike in 2018 and three in 2019, whereas markets are pricing in one more hike in 2018 and only two in 2019). The economic calendar today features the October US ADP Employment Change report, which will help undergird expectations for Friday's October US Nonfarm Payrolls report. Binary options in india. Likewise, with US midterm elections now less than a week away, it would be appropriate for market participants' attention to return back towards the United States. DXY Index Price Chart: Daily Timeframe (January to October 2018) (Chart 1) Even amid the rebalancing potential (which is minor, so no reason to be spooked), the technical outlook for the DXY Index remains bullish for familiar reasons. Price is still above its daily 8- 13-, and 21-EMA envelope, and the moving averages in sequential fashion. Similarly, both daily MACD and Slow Stochastics are trending higher in bullish territory.