- Greenback returns in a weekly loss before the American trading session on Friday.
- The risks of the tannins in the main headlines continue to close the government and winds of tariffs.
- The US dollar index has been limited to the 104.00 obstacle and it seems that it closed the week in a negative tone.
The US dollar index (DXY), which tracks the performance of the US dollar (USD) against six main currencies, decreases again on Friday after some major addresses on the definitions and the American spending bill. The index, which was limited below 104.00 hurds this week, was not transmitted, although rumors of a potential ceasefire deal by Ukraine, and the first steps in the German spending plan to vote and revenge on Canada and Europe over the American tariff.
On the economic data front, the University of Michigan published the initial consumer morale reading and expected inflation for 5 years. Feelings are clearly revolving with less reading in consumer morale while inflation forecast tends to the upward trend.
Daily Digest Market Movers: The consumer says no
- Gold has violated the origin of a safe haven for a brand of $ 3000 on Friday in a recession rally, as traders are very anxious about economic growth and tariff expectations, with mutual fees in effect in April.
- The government closure seems to be avoided after it is said that the leader of the Senate minority Chuck Schumer supports the financing scale passed at home.
- Canada has requested the World Trade Organization (the World Trade Organization) to consider the possibility to consider US President Donald Trump’s tariff illegal, Bloomberg said.
- The University of Michigan has released its initial reading for the month of March:
- The Consumer Feelings Index in the United States decreased to 57.9, a significant deviation from the expected 63.1, coming from 64.7 in the last February reading.
- The inflation expectations in the United States jumped for 5 years to 3.9 %, increased from 3.5 % in February’s final reading.
- The stocks make another attempt to remove the negative tone for this week. All indicators have increased more than 0.50 % throughout Europe and in the United States.
- The CME Fedwatch Tool provides a 97.0 % opportunity for lack of interest rate changes at the upcoming Federal Reserve meeting on March 19. Prices reduction opportunities at the May 7 meeting by 32.8 % and 78.5 % at the June meeting.
- The return in the United States is trading for 10 years about 4.306 %, from its lowest level in five months at 4.10 % printed on March 4 and after it reached the highest level in five days on Thursday.
Technical analysis of the US dollar index: stuck in the middle
The US dollar index (DXY) shows dumping fatigue after its correction caused by the landing last week. The fluctuations in the price movement are completely eroded, and even the DXY settles on Friday after recovering the initial weekly losses. Although the tensions that caused the exchange of mutual tariffs enter April, it seems that the US dollar index may be about to strengthen some of the losses of the previous week when evaluating the direction until next week.
The upward risks are rejection at 104.00 can lead to more stagnation. If the bulls can avoid this, look for a large racing towards the level of the 105.00 round, with a average simple movement for 200 days (SMA) at 105.02. Once it is broken in that area, it will present a series of axial levels, such as 105.53 and 105.89, as covers.
On the negative side, the round level of 103.00 can be considered declining in the event of the start of American revenues again, with up to 101.90 cannot be conceived if the markets surrender to their long -term property of the US dollar.
US dollar index: daily chart
