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DXY: Bears need softer CPI print - OCBC
Breaking news
DXY: Bears need softer CPI print - OCBC
New
2025.01.15 17:45
2025.01.15 17:45
2025.01.15 17:45
US Dollar (USD) slipped overnight after PPI missed estimates (+0.2% m/m vs. 0.4% expected), OCBC's FX analyst Christopher Wong notes.
Bearish divergence appears on RSI
"Earlier report on Trump team considering a schedule of gradual tariffs increasing by about 2% to 5% a month also helped to support sentiments. Most non-USD FX rebounded while Dollar Index (DXY) eased but it remains to be seen if the recent move has legs. Admittedly, the idea of gradual tariff increase remains in the early stages for now. DXY was last seen trading at 109.25."
"Mild bullish momentum on daily chart intact but RSI eased. Broader bias remains skewed to the upside, but we do not rule out retracement play in the short term. Bearish divergence observed on RSI - we continue to monitor price action for confirmation. Support at 108.50 (21 DMA), 107.15 (50DMA). Resistance at 110.10, 110.90 levels."
"Focus today on CPI. We would need a much softer print to help to apply brakes on dollar. Failing which, another hot print should fuel USD higher."
Last updated
: 2025.01.15
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CAD lags commodity peers - Scotiabank
The Canadian Dollar (CAD) is lagging its commodity peers and trading little changed on the session. Tariff risks remain a constraint on the CAD's performance, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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2025.01.15 21:58USD/JPY: BoJ Governor Ueda comments boost BoJ tightening bets - Scotiabank
The Japanese Yen (JPY) is leading gains amongst the majors, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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2025.01.15 21:55US Dollar edges lower - Scotiabank
The US Dollar (USD) is modestly lower for a second day. US PPI came in below consensus expectations yesterday, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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2025.01.15 21:51US Dollar retreats for third day in a row ahead of US CPI inflation
The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, extends its correction from a two-year high above 110.00 reached on Monday and trades near 109.10 at the time of writing on Wednesday.
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2025.01.15 20:53USD/CNH: Upward momentum is beginning to fade - UOB Group
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2025.01.15 19:57USD/JPY: Current price movements are likely part of a consolidation phase - UOB Group
Further range trading seems likely, probably between 157.30 and 158.30. In the longer run, current price movements are likely part of a consolidation phase, expected to be between 156.50 and 158.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.01.15 19:43Gold recovers ahead of US CPI inflation data
Gold's price (XAU/USD) recovers initial weekly losses and edges higher for the second day in a row, trading in the $2,680s on Wednesday, after a softer-than-expected United States (US) Producer Price Index (PPI) release the previous day triggered substantial easing in US yields.
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2025.01.15 19:42USD/CHF Price Forecast: Trades cautiously near 0.9100 ahead of US inflation data
The USD/CHF pair trades with caution slightly above the key support of 0.9100 in Wednesday's European session.
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2025.01.15 19:41US CPI inflation set to rebound in December, core to remain high
The US Consumer Price Index (CPI) report for December, a critical gauge of inflation, is set to be released on Wednesday at 13:30 GMT, courtesy of the Bureau of Labor Statistics (BLS).
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2025.01.15 19:30NZD/USD: To trade most likely between 0.5570 and 0.5835 - UOB Group
New Zealand Dollar (NZD) is expected to trade in a range, most likely between 0.5570 and 0.5835. Whippy price action has resulted in a mixed outlook; for the time being, NZD could trade in a sideways range of 0.5540/0.5650, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.01.15 19:22Disclaimer:
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