The Dollar Index (DXY)
Key news events today
No major news events.
What can we expect from DXY today?
The DXY spiked and dipped between the 103.70 and 104.20 price range overnight as the market volatility returned following the US Bank holiday. US Manufacturing and Services PMI was released stronger than expected, which resulted in the DXY trading higher overall. Currently trading below the 104 round number level, the DXY could trade lower briefly to retest the 103.50 price level. If the price breaks below 103.50, the DXY could trade significantly lower to the next key support level at 102.85.
Central Bank Notes:
Federal Reserve hiked rates by 25bps taking interest rates to 4.75%
Next meeting is on 23 March 2023
Ongoing rate increases will be expected
Next 24 Hours Bias
Weak Bearish
