The USD Bounces in a Quiet Day
The USD rose yesterday but overall it was a quiet trading day to start the week.
Rowan Crosby•Tuesday, March 5, 2019•1 min read
The USD rose yesterday but overall it was a quiet trading day to start the week.
Equities fell away as much of the positive news from the US-China trade deal appears to already be priced in.
Risk assets did see some strength, led by the AUD and NZD which were the two best performers on the session.
A quick overnight snapshot of key markets:
- Dow -0.8% S&P 500 -0.4% Nasdaq -0.2%
- Europe: Stoxx 50 +0.2% FTSE +0.4% CAC +0.4% DAX -0.1%
- Spot gold -0.5% to $US1287.58 an ounce
- Brent crude +0.1% to $US65.14 a barrel
- US oil +0.3% to $US55.98 a barrel
The USD Outlook
The DXY remains below the key resistance level at 97.00 and has bounced off the 96.50 support.
Key support remains at 96.00, with secondary levels at 95.00-95.50. These look some way off at the moment.
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ABOUT THE AUTHOR
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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.
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