⬆️🖼️. DOLLAR Index trade line bullish momentum analysis)⤴️⤴️
Hello trader’s what do you think about DXY index )?
traders are looking 👀 a 4H tame frame 🖼️ trade line dxy hitting support levels and trade line now dxy bak up ⬆️ 102.381 to 102.573)
The dollar index fell to below 101 on Wednesday, the lowest in five months, as markets continued to position according to signs of cooling US inflation, and consequently, incoming rate cuts from the Federal Reserve.
Data released on Friday showed that the core PCE index, the Fed’s preferred inflation gauge, fell to 3.2% in November from 3.4% in October, coming in below forecasts of 3.3%.
Markets are now pricing in around a 90% chance that the central bank may start its cutting cycle by March.
The dollar traded close to multi-month lows against other major currencies, but has been gaining ground versus the Chinese yuan amid expectations that the People’s Bank of China would lower key rates next
traders are looking 👀 a 4H tame frame 🖼️ trade line dxy hitting support levels and trade line now dxy bak up ⬆️ 102.381 to 102.573)
The dollar index fell to below 101 on Wednesday, the lowest in five months, as markets continued to position according to signs of cooling US inflation, and consequently, incoming rate cuts from the Federal Reserve.
Data released on Friday showed that the core PCE index, the Fed’s preferred inflation gauge, fell to 3.2% in November from 3.4% in October, coming in below forecasts of 3.3%.
Markets are now pricing in around a 90% chance that the central bank may start its cutting cycle by March.
The dollar traded close to multi-month lows against other major currencies, but has been gaining ground versus the Chinese yuan amid expectations that the People’s Bank of China would lower key rates next
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