The Dollar Index (DXY)
Key news events today
No major news events.
What can we expect from DXY today?
The DXY climbed above the 114 round number resistance level to reach a high of 114.40 early in the trading session today. This move higher was driven by the weakness in the GBPUSD. With no major news events for the DXY today, look for the DXY to retrace briefly before a continuation of the trend to the upside. Look for the DXY to test the round number resistance of 115.
Central Bank Notes:
Federal Reserve hikes rates by 75bps taking interest rates to 3.25%
Next meeting on 3 November
Further rate increases can be anticipated, with rate cuts expected only if Fed Reserve is confident inflation is moving back down to 2%
Next 24 Hours Bias
Weak Bullish
