Rates Week News Today

The US Dollar (via the DXY Index) closed below ascending triangle resistance, an indication that the recent bullish breakout attempt may have failed.

The US Dollar (via the DXY Index) has once again rebounded from rising trendline support from the May 2021 and January 2022 swing lows.

The US Dollar (via the DXY Index) broke its 2021 high and moved up to its highest level since July 2020 following the January Federal Reserve meeting.

The DXY Index’s rebound at a critical support region suggests that the worst of the sell-off may have been completed.

The US Dollar (via the DXY Index) saw all of its weekly gains evaporate following the May US nonfarm payrolls report as US Treasury yields receded.

Weekly Technical Euro Forecast: Upside Potential Persists Advertisement Technical Forecast for the Euro: Neutral The Euro appears to be consolidating after recent upside moves; there is plenty of room in futures positioning for speculators to drive prices higher. Net-long Euro positioning is back to its highest level since the last week of March. Euro Rates Week in Review The Euro has a mostly positive turn through the middle of May, even if the headline stats don’t appear so. Even though fou...

Weekly Technical Euro Forecast: Basically a Falling Knife Advertisement Technical Forecast for the Euro: Bearish The Euro has been cut down to size in recent days, and technical studies among various EUR-crosses suggest that the weakness may continue. Net-long Euro positioning is now at its lowest level since July 2020 – and the reporting period ended prior to the selloff on Thursday and Friday. Euro Rates Week in Review It was a rough week for the Euro. Losing ground agai...

Weekly Technical US Dollar Forecast: Finally Turning Higher? Advertisement Technical Forecast for the US Dollar: Neutral The DXY Index has held onto key technical support, suggesting that bulls may have a bit more fight left yet. Net-short US Dollar futures positioning has eased as the DXY Index has rallied, but has not shifted that significantly from levels seen going back to mid-December 2020. The IG Client Sentiment Index suggests that the Euro, the largest component of t...

The DXY Index’s rebound in recent weeks has done little to revert the major technical damage sustained in recent months.