United States Dollar Index stays pressured, lacks follow-through

The post United States Dollar Index Forecast: Tests 23.6% Fibo. below 101.00 appeared on BitcoinEthereumNews.com. The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, extends the previous day’s pullback from the 101.25-101.30 region and attracts some follow-through sellers on Thursday. The index touches a fresh weekly low during the first half of the European session and currently trades around the 100.90 area, down over 0.15% for the day. From a technical perspective, the DXY is supported by the 23.6% Fibonacci retracement level of the May-June upswing and holds a constructive near-term bias above the 100.50 horizontal resistance breakpoint, which should act as a pivotal point. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator stays below zero with a negative reading at -0.09, hinting that bullish momentum is still tentative despite the supportive structure. Furthermore, the Relative Strength Index (RSI) at 56.09 sits in neutral ter

The post Silver Price Forecast: XAG/USD jumps to near $59 as US Dollar declines appeared on BitcoinEthereumNews.com. Silver price (XAG/USD) is up over 1% to near $59.00 during the European trading session on Thursday. The white metal gains as the US Dollar (USD) faces selling pressure despite multiple tailwinds. At press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.25% lower to near 100.80. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.24% -0.28% -0.18% -0.10% -0.18% -0.58% -0.33% EUR 0.24% -0.04% 0.04% 0.13% 0.09% -0.31% -0.09% GBP 0.28% 0.04% 0.07% 0.17% 0.12% -0.27% -0.04% JPY 0.18% -0.04% -0.07% 0.07% 0.05% -0.38% -0.13% CAD 0.10% -0.13% -0.17% -0.07% -0.04% -0.44% -0.21% AUD 0.18% -0.09% -0.12% -0.05% 0.04% -0.39% -0.17% NZD 0.58% 0.31% 0.27% 0.38%

The post AUD/USD Price Forecast: 0.6860 is key support level amid geopolitical risks appeared on BitcoinEthereumNews.com. The Australian Dollar (AUD) trades marginally higher at around 0.6935 against the US Dollar (USD) during the European trading session on Thursday. The Aussie pair edges up as the US Dollar ticks lower despite escalating Middle East risks and hawkish Federal Open Market Committee (FOMC) Minutes of the June policy meeting. At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.13% lower to near 100.92. The attacks on Iranian infrastructure by United States (US) military forces signal that the restart of the war would last long, a scenario that might keep oil prices higher and the appeal of safe-haven assets upbeat. According to Axios, the US Air Force bombed two railway bridges in Iran on Wednesday. Meanwhile, the FOMC Minutes showed on Wednesday that policymakers are concerned about upside inflation risks a

The post Euro holds modest gains above 1.1400 vs USD as Mideast tensions cap appeared on BitcoinEthereumNews.com. The EUR/USD pair attracts some buyers for the second straight day, though it lacks follow-through and remains confined within the previous day’s range during the Asian session on Thursday. Spot prices currently trade around the 1.1420 area, up less than 0.10% for the day, and remain at the mercy of the US Dollar (USD) price dynamics. The USD Index (DXY), which tracks the Greenback against a basket of currencies, remains on the defensive below the weekly top, touched on Wednesday, amid reduced expectations for Federal Reserve (Fed) rate hikes. Against the backdrop of last week’s soft US Nonfarm Payrolls (NFP) report, the Minutes of the June 16-17 FOMC meeting revealed that policymakers noted high uncertainty about the outlook on interest rates. However, Fed officials  indicated that some policy firming would likely be warranted to return inflation to 2%. According to the CME

The post US Dollar Index shrugs at unanimous Fed hold that reads anything but unanimous appeared on BitcoinEthereumNews.com. The US Dollar Index (DXY) spent Wednesday travelling in circles, grinding around 101.00 after the Minutes of the June 16-17 Federal Open Market Committee (FOMC) meeting crossed the wires at 18:00 GMT, capping a session in which traders had already faded another round of Middle East friction. The muted price action undersells the document. A unanimous 12-0 vote to hold the target range at 3.50% to 3.75% papers over a Committee that agrees on very little beyond the decision itself. Read more: FOMC Minutes leans toward higher-for-longer narrative One vote, three arguments Every voter backed June’s hold, and the post-meeting statement shrank to a few terse lines anchored by a bare commitment to delivering price stability. The Minutes reveal what that unity cost: a few participants saw a live case for raising the target range at the meeting itself, and settled for the

The post United States Dollar Index climbs as Middle East tensions, Fed rate hike bets lift demand appeared on BitcoinEthereumNews.com. The US Dollar Index (DXY) consolidates modest gains on Wednesday as traders assess renewed tensions between the United States and Iran and the potential economic fallout. At the time of writing, the index, which tracks the Greenback’s value against a basket of six major currencies, is trading around 101.20, hitting a four-day high. The US Dollar (USD) strengthened after US President Donald Trump declared that the ceasefire deal with Iran was “over.” However, Reuters later reported, citing a source familiar with the talks, that Trump did not repeat those remarks during the closed NATO leaders’ meeting. Tensions escalated after renewed fighting between the United States and Iran overnight, following attacks on commercial vessels near the Strait of Hormuz. Trump warned that the US would “probably hit them again tonight” and added that “we may take over Kh

The post US Dollar Index: Hawkish Fed minutes may support greenback – ING appeared on BitcoinEthereumNews.com. ING’s Francesco Pesole notes that recent equity jitters and firm Oil prices have underlined the Dollar’s safe-haven appeal, while markets look to the June Federal Open Market Committee (FOMC) minutes. He argues the Federal Reserve’s (Fed) hawkish shift and Dot Plot have kept the Dollar supported, and expects US Dollar Index (DXY) to trade largely rangebound with modest upside risks in the near term. Fed minutes seen cementing hawkish stance “Equity jitters offered the dollar some support yesterday – a reminder of the greenback’s very strong safe-haven appeal despite the concentration of AI-sensitive stocks in US indices. Oil prices are also trading on the strong side after some overnight military action in Iran and the Treasury revoking the waiver that allowed Teheran to sell crude. Markets will keep monitoring the situation but have tended to fade Middle East re-escalation ri

The post British Pound slumps against US Dollar as risky assets turn fragile appeared on BitcoinEthereumNews.com. The British Pound (GBP) is down 0.13% to near 1.3340 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair faces selling pressure as renewed geopolitical risks have diminished the appeal of riskier assets. At press time, S&P 500 futures are down almost 1% to near 7,430, demonstrating a risk-off market mood. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades marginally higher to near 101.15 after recovering early losses. Risks of the restart of the Middle East war have forced investors to shift to the safe-haven fleet. In the European trade, United States (US) President Donald Trump said that the “memorandum of understanding (MoU) with Iran is over”, adding that he doesn’t want to deal with them. This came as Tehran continues to prove its authority over the Strait of Hormuz, a critical c