Markets on Tuesday: A Quiet Dollar as We Look to US Inflation

Monday was a slow start to the trading week, as daylight savings gave traders a rough start.

stocks

Monday was a slow start to the trading week, as daylight savings gave traders a rough start. That was reflected by the relatively quiet forex markets.

The USD pushed lower but there wasn’t much action all around. Equities fell away along with Oil and Gold.

Bitcoin made a run at the 10,000 level before promptly selling back off and is now back around the 9,000 level. We just can’t seem to find any buyers at anything upward of 10,000 for the time being.

Overhead Resistance

Key resistance looks to be a long way off at the moment, and in truth, we didn’t even really have a chance to test anything to the upside on Monday.

As it stands we are now sitting just below 90.00 and we are all eagerly awaiting US CPI on Tuesday which will shape trade in the short-term.

A strong number will see us push back into those key overhead resistance areas. While a miss will certainly see us fall below 89.50 and perhaps even further.

US Dollar Index (DXY)- 240 min Chart.

 

ABOUT THE AUTHOR See More
Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

Related Articles

Comments

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers