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U.S. Dollar Index

DXY Levels to Watch Ahead of NFP

By FOREXcom
Broker
Looking at the chart of the US Dollar Index (DXY), the world’s reserve currency remains in a well-defined downtrend despite last week’s bounce. The near-term reaction in the US dollar will likely follow the likelihood of a 25bps rate cut from the Fed (bullish) vs. 50bps rate cut (bearish) as outlined in the chart above, but ultimately, the dominant downtrend and potential for consistent interest rate reductions from the Federal Reserve in the coming year could keep the greenback under pressure as we move through the fall regardless.

-MW
Chart PatternsdollarDXYTrend AnalysisDJ FXCM Index
FOREXcom
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