The Dollar Index (DX) may appreciate to 83.40 and next 84.10 ranges as long as it sustains above 81.90. The US Dollar traded mixed: flat against the Euro, the Swiss Franc and the British Pound. It depreciated against the Aussie and appreciated against the Japanese Yen.
Dow Industrials (DJIA) is trading around all time high of 14200-14300 made during October 2007; trading consistently above 14300 results in new rally. Historic correlation between DX Vs DJIA suggests the long-term trend is still dollar bearish, until the Dollar Index doesn't not close above 84.50 on a monthly basis, although the short and medium term trends are bullish.
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.
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FX Daily Report: Mixed Trading For USD - March 13, 2013
Published 03/13/2013, 02:23 AM
Updated 05/14/2017, 06:45 AM
FX Daily Report: Mixed Trading For USD - March 13, 2013
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