By Talking Points:
- USDOLLAR Continues to Show Limited Reaction to U.S. Data.
- Bullish AUD/USD at Risk on Slowing China 1Q GDP.
- USD/CAD Limited by Former Support Ahead of BoC Interest Rate Decision.
Index | Last | High | Low | Daily Change (%) | Daily Range (% of ATR) |
DJ-FXCM Dollar Index | 10449.12 | 10460.37 | 10436.3 | 0.12 | 72.19% |
The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) continued to show a limited reaction to the positive developments coming out of the world’s largest economy, and the bearish sentiment surrounding the greenback may gather pace over the next 24-hours of trade should Fed Chair Janet Yellen show a greater willingness to retain the zero-interest rate policy (ZIRP) for an extended period of time.
With that said, we will revert back to the approach of ‘selling bounces’ in the greenback once the near-term correction is complete, and may continue to see a series of lower highs & lower lows as long as price and the Relative Strength Index (RSI) retain the bearish formation from earlier this year.
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Read More:
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GBP/JPY, GBP/USD Set for Test of Highs or Major Breakdown
USDOLLAR Daily
Chart - Created Using FXCM Marketscope 2.0
- Appears to Be Capped by Former Support (10,470); 10,508-509 Up Next
- Interim Resistance: 10,602 (38.2 retracement) to 10,615 (78.6 expansion)
- Interim Support: 10,406 (1.618 expansion)
Release | GMT | Expected | Actual |
Fed's Dennis Lockhart Speaks on Financial Markets | 12:30 | ||
Consumer Price Index (MoM) (MAR) | 12:30 | 0.1% | 0.2% |
Consumer Price Index (YoY) (MAR) | 12:30 | 1.4% | 1.5% |
Consumer Price Index ex Food & Energy (MoM) (MAR) | 12:30 | 0.1% | 0.2% |
Consumer Price Index ex Food & Energy (YoY) (MAR) | 12:30 | 1.6% | 1.7% |
Consumer Price Index Core Index s.a. (MAR) | 12:30 | 236.452 | 236.604 |
Consumer Price Index n.s.a. (MAR) | 12:30 | 236.017 | 236.293 |
Fed Chair Janet Yellen Speaks on Financial Stability | 12:45 | ||
Net Long-term TIC Flows (FEB) | 13:00 | $30.0B | $85.7B |
Total Net TIC Flows (FEB) | 13:00 | -- | $167.7B |
NAHB Housing Market Index (APR) | 14:00 | 49 | 47 |
Fed's Charles Plosser Speaks on Financial Stability | 19:00 | ||
Fed's Eric Rosengren Speaks on U.S. Economy | 20:00 |
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--- Written by David Song, Currency Analyst
To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.
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