FX Daily Report: Long-Term Trend Is Still Dollar Bearish

By GFM ResearchCurrenciesFeb 20, 2013 01:45AM ET

www.investing.com/analysis/fx-daily-report:-long-term-trend-is-still-dollar-bearish-155970

FX Daily Report: Long-Term Trend Is Still Dollar Bearish

By GFM Research | Feb 20, 2013 01:45AM ET

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Market Commentary
The US Dollar traded mixed where it has depreciated against the Euro and the Aussie, but continued to appreciate against the Sterling and the Japanese Yen. The Dollar Index (DX) finds resistance near 81.00 ranges; further appreciation is expected only above 81.20, which is acting as medium term resistance.

The benchmark equity index (.DJIA) is trading consistently above the psychological resistance of 14000 with 14200 ranges being historic high acting as important barrier.

Historic correlation between DX Vs DJIA suggests the long-term trend is still dollar bearish till the DX is not closing above 84.50 on monthly basis.
FX Pair

Disclaimer: This report contains the views of GFM Research Private Limited. This report should not be construed as investment/trading advice. Due care is taken when gathering the data/information and the data sources are believed to be reliable, though GFM Research Private Limited nor its Group Companies guarantee for the same. Trading/investing in financial markets may result in financial and/or emotional stress, a trader/investor is advised to weigh pros and cons of trading/investing. Further disclaimer will be produced on request.

Disclaimer: This report contains the viewpoints of GFM Research. This report should not be construed as investment/trading advice. Due care is taken when gathering the data/information and the data sources are believed to be reliable, though GFM Research nor its Group Companies guarantee for the same. Trading/investing in financial markets may result in financial and/or emotional stress, a trader/investor is advised to weigh pros and cons of trading/investing. Further disclaimer will be produced on request.

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.90%

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BOE

4.50%

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3.00%

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RBNZ

3.75%

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BOJ

0.50%

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21.00%

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6.25%

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PBOC

3.10%

BCB

13.25%

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FX Daily Report: Long-Term Trend Is Still Dollar Bearish

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