Global Broker Regulation Inquiry App
WikiFX
English
简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
USD Index: Pressured near 103.00 as Debt Limit Talks and Meeting Minutes Approach
Abstract：USD Index maintains its pullback since reaching a two-month high last Friday, remaining under pressure near intraday lows. As a critical week begins, US policymakers fail to reach a debt ceiling agreement, posing challenges to USD bulls amid Federal Reserve's diverging views. US PMI, a favored inflation indicator by the Federal Reserve, and the upcoming release of Fed meeting minutes will be in focus as efforts to avoid default take precedence in the United States.
In the Asian market on Monday, the US dollar index remained near the intraday lows around 103.00, maintaining its pullback since reaching multi-day highs last Friday, due to concerns over the US debt ceiling negotiations and the Federal Reserve. The performance of the US dollar index against major currencies also reflects market preparation for key data/events this week.
In the latest bearish news for the US dollar, the inability of US policymakers to reach a debt ceiling agreement takes the spotlight, while comments from Federal Reserve officials remain divergent.
According to Reuters, US President Joe Biden and House Republican Leader Kevin McCarthy are set to meet on Monday to discuss the debt ceiling issue. Prior to this meeting, they had a “productive” phone conversation when the President returned to Washington, as cited by Reuters. It should be noted that Republicans are not very optimistic and had suspended talks earlier over the weekend.
In other news, Federal Reserve Chair Jerome Powell emphasized concerns about inflation on Friday, but also mentioned that the recent banking crisis has led to tighter credit standards, easing the pressure for interest rate hikes. This development has had an impact on bets on the Fed's hawkish stance, allowing the US dollar bulls to catch their breath.
It should be noted that due to positive US economic data and hawkish comments from Federal Reserve (Fed) officials last week, market expectations for a 0.25% interest rate hike in June by the Fed have recently increased, while calls for rate cuts in 2023 have decreased. This has fueled optimism among US dollar bulls ahead of key catalysts.
Against this backdrop, US stocks closed slightly lower, with S&P 500 futures following the overnight decline in US stocks, while US bond yields edged higher.
Looking ahead, the focus for forex traders will be on the upcoming Federal Reserve meeting minutes, preliminary May PMI data, and the core Personal Consumption Expenditures (PCE) Price Index, which is a favored inflation indicator by the Fed. Of utmost importance will be the resolution of the US debt ceiling, as it will determine the short-term outlook for the US dollar. If US policymakers manage to extend the debt ceiling, the US dollar index may experience further upside.
Technical Analysis
Although currently experiencing a decline, the bearish momentum in the US dollar index would need confirmation from support at the 100-day moving average, currently located around 102.85, for the bears to regain control.
USD Index Spot
Overview
Latest Price: 103.05
Day's Change: -0.14
Day's Change %: -0.14
Open: 103.19
Trends
20-day Moving Average: 101.99
50-day Moving Average: 102.31
100-day Moving Average: 102.89
200-day Moving Average: 105.72
Levels
Previous Day High: 103.62
Previous Day Low: 102.99
Weekly High: 103.63
Weekly Low: 102.2
Monthly High: 103.06
Monthly Low: 100.79
Daily Chart 38.2% Fibonacci Retracement Level: 103.23
Daily Chart 61.8% Fibonacci Retracement Level: 103.38
Daily Chart Pivot Support 1: 102.92
Daily Chart Pivot Support 2: 102.64
Daily Chart Pivot Support 3: 102.29
Daily Chart Pivot Resistance 1: 103.54
Daily Chart Pivot Resistance 2: 103.9
Daily Chart Pivot Resistance 3: 104.17
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Currency Pair
Future
Inflation
Spot Market
Spot Price
Forex trading
Forex indicator
support and resistance
Forex Currency pair
Forex Analysis
Forex news
forex market
Read more
E TRADE Review: Traders Report Tax on Withdrawals, Poor Customer Service & Fund Scams
Has your E Trade forex trading account been charged a withholding tax fee? Did your account get blocked because of multiple deposits? Did you have to constantly call the officials to unblock your account? Failed to open a premium savings account despite submitting multiple documents? Is fund transfer too much of a hassle at E Trade? Did you find the E Trade customer support service not helpful? In this E Trade review article, we have shared certain complaints. Take a look!
Original 1h
mBank Exposed: Top Reasons Why Customers are Giving Thumbs Down to This Bank
Do you find mBank services too slow or unresponsive? Do you find your account getting blocked? Failing to access your account online due to several systemic glitches? Can’t perform the transactions on the mBank app? Do you also witness inappropriate stop-level trade execution by the financial services provider? You are not alone! Frustrated by these unfortunate circumstances, many of its clients have shared negative mBank reviews online. In this article, we have shared some of the reviews. Read on!
Original 2h
In-Depth Uniglobe Markets Commission Fees and Spreads Analysis – What Traders Should Really Know
For experienced traders, the cost of execution is a critical factor in broker selection. Low spreads, fair commissions, and transparent pricing can be the difference between a profitable and a losing strategy over the long term. This has led many to scrutinize the offerings of brokers like Uniglobe Markets, which presents a tiered account structure promising competitive conditions. However, a professional evaluation demands more than a surface-level look at marketing claims. It requires a deep, data-driven analysis of the real trading costs, set against the backdrop of the broker's operational integrity and safety. This comprehensive Uniglobe Markets commission fees and spreads analysis will deconstruct the broker's pricing model, examining its account types, typical spreads, commission policies, and potential ancillary costs. Using data primarily sourced from the global broker inquiry platform WikiFX, we will provide a clear-eyed view of the Uniglobe Markets spreads commissions prici
Original 3h
In-Depth Review of Stonefort Securities Regulation and Oversight – A Trader's Guide to the Risks
For experienced traders, the process of selecting a new broker transcends a simple comparison of spreads and leverage. It is a meticulous due diligence exercise where the integrity of the broker's regulatory framework is paramount. Stonefort Securities, a relatively new entrant in the crowded brokerage space, presents a complex and often contradictory profile. On one hand, it boasts a modern MT5 platform and a stream of positive user testimonials. On the other hand, it is shadowed by severe regulatory warnings that question the very foundation of its operations. This in-depth review focuses on the core issue for any long-term trader: Stonefort Securities regulation and oversight. We will dissect the broker's corporate structure, scrutinize its licensing claims, and analyze what the data implies for trader protection and fund security. For traders evaluating whether Stonefort Securities is a trustworthy partner, understanding these details is not just important—it is essential.
Original 3h
WikiFX Broker
Latest News
In-Depth Uniglobe Markets Commission Fees and Spreads Analysis – What Traders Should Really Know
WikiFXWikiFX's New Evaluation of ATM Capital LTD: Does its License Protect the Arab Investor?
WikiFXIs Axi Legit? A Data-Driven Analysis of Its Regulatory Standing and Trader Feedback
WikiFXHow a Fake Moomoo Ad Led to the “New Dream Voyage 5” Scam
WikiFXFXPesa Review: Are Traders Facing High Slippage, Fund Losses & Withdrawal Denials?
WikiFXTrive Investigation: High Score, Hidden Risk - The Profit Paradox
WikiFXBessent believes there won't be a recession in 2026 but says some sectors are challenged
WikiFXIs GGCC Legit? A Data-Driven Analysis for Experienced Traders
WikiFXYoung Singaporean Trader Grew USD 52 into a USD 107,700 Portfolio
WikiFXmBank Exposed: Top Reasons Why Customers are Giving Thumbs Down to This Bank
WikiFXCurrency Calculator
USD
CNY
Current Rate: 0
Amount
USD
Available
CNY
Calculate