The U.S. Dollar Index (DXY) is testing its 50-day moving average on the daily chart, with bulls eyeing a potential breakout. A move above 98.75 could confirm a short-term trend reversal and open the path for further gains.
Stronger-than-expected U.S. economic data continues to support the greenback. Recent inflation prints, job market resilience, and solid retail spending have pushed back expectations for imminent Fed rate cuts. This shift in rate outlook provides fundamental support for the dollar.
In addition, strong U.S. corporate earnings are bolstering equity markets, attracting capital flows into U.S. assets and indirectly supporting dollar demand. Rising Treasury yields, especially on the short end, also offer more attractive returns for dollar-based investments.
Geopolitical uncertainties and trade tensions in Asia and Europe are prompting a rotation into the dollar as a safe-haven currency.
Meanwhile, some emerging market currencies are under pressure, increasing global demand for dollar liquidity.
Technically, a close above 98.75 could confirm bullish momentum, with 99.80 as the next upside target. As long as macro and risk dynamics lean in the dollar’s favor, DXY may continue its rebound from recent lows.
Stronger-than-expected U.S. economic data continues to support the greenback. Recent inflation prints, job market resilience, and solid retail spending have pushed back expectations for imminent Fed rate cuts. This shift in rate outlook provides fundamental support for the dollar.
In addition, strong U.S. corporate earnings are bolstering equity markets, attracting capital flows into U.S. assets and indirectly supporting dollar demand. Rising Treasury yields, especially on the short end, also offer more attractive returns for dollar-based investments.
Geopolitical uncertainties and trade tensions in Asia and Europe are prompting a rotation into the dollar as a safe-haven currency.
Meanwhile, some emerging market currencies are under pressure, increasing global demand for dollar liquidity.
Technically, a close above 98.75 could confirm bullish momentum, with 99.80 as the next upside target. As long as macro and risk dynamics lean in the dollar’s favor, DXY may continue its rebound from recent lows.
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