USD Gains Momentum

USD Gains Momentum

Happy Friday, dear traders! Let's check what news is moving the markets today!

  • Goldman predicts US Treasury funds will run out on June 9. US Treasury's cash balance dropped below $50 billion.
  • After a pause in raising rates, the Central Bank of New Zealand said that rates would be high for a long time.
  • Natural gas prices in Europe could briefly turn negative in the near term if sluggish demand does not equal a growing gas supply glut.
  • Nvidia is close to becoming the first $1 trillion chip maker.
  • Yesterday, Germany officially entered the recession. The DE30 index has probably marked its highs for a long time. 
  • Traders fully priced in another quarter-point interest-rate increase by the Federal Reserve within the next two policy meetings.
  • Ron DeSantis, US Florida Governor, stepped into the presidential elections from the Republican party. He’s a pro-crypto person.

US dollar index outlook


The US dollar index broke above the 61.8 Fibonacci level, 104.00. If the price holds above this support, an uptrend toward 105.80 might continue, which is a 1.75% potential gain.

On the other hand, if the price loses 61.8 Fibonacci level, it might slide to 50.0 and 50-period MA.  



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