The Dollar Index (DXY)
Key news events today
USD Preliminary UoM Consumer Sentiment
What can we expect from DXY today?
Due to the mixed data, the DXY continues to trade along the 109.70 price range with no strong directional bias. However, as the DXY consolidates within the tight range, look for price action to develop to signal the next move. If price breaks above 109.90, the DXY could climb towards the next resistance of 110.70. Alternatively, if the DXY breaks below the 109.45 price level, the DXY could call towards the next key support level of 108.30.
Central Bank Notes:
Federal Reserve hiked rates by 75bps taking interest rates to 2.50%
Next meeting on 22 September 2022
Balance Sheet reduction plan to continue at $60b (treasuries) and $35b (MBS) over a three-month timeframe
Next 24 Hours Bias
Weak Bullish
