US Dollar

The US economy performed better-than-expected in 2024, with the International Monetary Fund (IMF) upgrading its growth forecast for the region.

EUR/USD has recorded a 2% decline over the last five sessions, favoring the dollar and placing the euro in a sustained bearish zone.

It’s been a strong Q4 for the US Dollar and the currency continues to test a big spot of longer-term resistance. But will the Fed usher in another massive USD rally in 2025?

US Dollar rebounded off trend support early in the month with the bulls in a holding pattern ahead of the Fed. Battle lines drawn on the DXY weekly technical chart.

The US Dollar showed a strong support bounce since last Friday’s NFP report, setting the stage for resistance tests into tomorrow’s CPI and next week’s FOMC.

U.S. stocks are all set for a muted open after reaching record highs last week and as investors look ahead to inflation data later in the week. Stocks in the US have rallied across the past three weeks as the Trump trade continued to play out. US CPI is due on Wednesday and is expected to rise 2.7% YoY in November.

USD weakness showed in the immediate aftermath of the NFP print, with the 105.44 level coming in to help hold support. EUR/USD is now testing resistance while USD/JPY trades below the 150.00 level.

The US is anticipated to add 200K jobs in November, while the Unemployment Rate is expected to increase to 4.2% from 4.1% during the same period.

USD/CAD tested above a major level last week of 1.4000, which hadn’t traded in more than four years. So far this week sellers have sunk price back below that level, but can they hold it into week and month-end?

US Dollar surged 6.9% off the yearly low with the Trump rally fueling a breakout of the 2023 consolidation pattern. Battle lines drawn on the weekly technical chart.

The US Dollar has finally found some resistance after filling the FOMC gap from last year, and that goes along with a EUR/USD bounce from the 1.0500 psychological level.

It’s been a fast first-half of Q4 for both the US Dollar and EUR/USD and both are now showing a case of RSI divergence from the daily chart.

The US Dollar has continued its rally after Trump’s win and last week’s FOMC rate decision, and DXY is now testing some unfilled gap from last November’s FOMC meeting.

The post-election rally has extended more than 2.7% off the monthly low with USD now testing major resistance. Battle lines drawn on the DXY short-term technical charts.

The USD rally has continued and DXY is nearing some key points of range resistance. EUR/USD is tanking and 1.0500 is the next logical spot of support potential. But it’s USD/CAD with the 1.4000 level that’s of interest for USD pullback scenarios.

The update to the US CPI is anticipated to show the headline reading widening to 2.6% in October from 2.4% per annum the month prior.

US Dollar surged nearly 5.3% off the yearly low with the Trump election rally failing at major resistance. Battle lines drawn on the weekly technical chart into the Fed.