Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
High grades incl. 10m @ 43.8g/t Au in...
Right to Earn Majority Interest in Highly Prospective...
Procter & Gamble to cut 7,000 jobs as...
Trump says national security concerns in Nippon-U.S. Steel...
Top 5 Canadian Mining Stocks This Week: St....
Procter & Gamble to cut 7,000 jobs as...
Lithium Africa
Kalgoorlie Gold Mining
Juggernaut Exploration
Skyharbour Resources
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Economy

The dollar index fell to a new annual low on Wednesday

by admin August 24, 2024
August 24, 2024
The dollar index fell to a new annual low on Wednesday

The dollar index fell to a new annual low on Wednesday

  • On Wednesday evening, we saw the creation of a new low dollar index at the 100.92 level

Dollar index chart analysis

On Wednesday evening, we saw the creation of a new low dollar index at the 100.92 level. After eight months, the dollar again fell below the 101.00 level. We stabilized this time and saw the initiation of bullish consolidation yesterday. The index climbed to 101.62 and jumped over the EMA 50 moving average.

During this morning’s Asian trading session, the dollar made another retreat, this time to the 101.20 level. There, it gets new support and forms a higher low compared to the previous one. We are now at 101.42 and will try to get the EMA 50 moving average support again. This time, it would mean more concretely, and we could hope for the initiation of bullish consolidation and the recovery of the dollar index. Potential higher targets are the 101.80 and 102.00 levels.

https://www.tradingview.com/x/2IOKo8Pc/

 

The index is positive for the second day in a row and could continue its recovery next week

For a bearish option, we need bearish consolidation moves and a drop below the 101.20 level. This will form a new daily low and confirm the increase in bearish momentum. After that, we have to watch the dollar retreat to lower levels. Potential lower targets are 101.00 and 100.80 levels.

From the news today, we single out Japanese core inflation, which rose from 2.6% to 2.7%. There is no significant news in the EU session. Later in the US session, we have the New Home Sales report, and Federal Reserve Chair Jerome Powell is to speak. During his speech, we expect increased volatility of the dollar index. Powell will talk about the state of the US economy and the Fed’s future interest rate moves.

 

The post The dollar index fell to a new annual low on Wednesday appeared first on FinanceBrokerage.

previous post
EURAUD and EURNZD: EURAUD in a new bearish consolidation
next post
INBS Stock: Biosensor Innovator’s Market Challenges

You may also like

RVSN Stock: Innovation Amid Financial Struggles

August 9, 2024

USDCHF and USDJPY: USDJPY continues bullish consolidation

August 31, 2024

Sanofi Stock Report: 14.4% Income Growth Amid Restructuring

October 26, 2024

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped...

January 13, 2025

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped...

January 16, 2025

EARN Stock Price Forecast: Is It Worth Buying?

September 24, 2024

SPWR Stock: Risks and Opportunities for Buyers and...

September 13, 2024

NVO Stock: Pprice prediction and financial highlights

August 30, 2024

USD/CHF in a strong up trend; USD/JPY breaks...

November 13, 2024

AUDUSD and AUDNZD: AUDUSD is making new high...

September 17, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • High grades incl. 10m @ 43.8g/t Au in Sandstone drilling

      June 16, 2025
    • Right to Earn Majority Interest in Highly Prospective Chilean Copper-Gold-Molybdenite Porphyry Project and Placement to raise $2.2m

      June 16, 2025
    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 16, 2025
    • Trump says national security concerns in Nippon-U.S. Steel deal can be resolved

      June 16, 2025
    • Top 5 Canadian Mining Stocks This Week: St. Augustine Rises 67 Percent on Private Placement

      June 15, 2025
    Promotion Image

    banner ads

    Categories

    • Business (723)
    • Economy (829)
    • Investing (2,204)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 smarttradeinsights.com | All Rights Reserved