U.S. dollar index retreats from 20 year highs — but will DXY topping spark a ...
Strong euro and overbought readings could pressure the dollar further, showing signs of topping out—Bitcoin at risk of falling. The U.S. dollar index (DXY) retreated broadly from its prevailing bull run in the past two weeks, dropping by up to 3.20% after hitting its two-decade high of 105.Overvaluation risks grip dollar marketDollar's correction in the last two weeks preceded twelve months of relentless buying. To recap, the greenback's weight against the basket of top foreign currencies grew by around 14.3% in a year, primarily as markets looked for safe havens against the fears of a....
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In 2022, the U.S. dollar has been very strong, despite the global economy’s downturn and the rising inflation worldwide. 12 days ago, the U.S. Dollar Index (DXY) rallied to a high of 114.8 and since then, the index has pulled pack and a recent analysis from economists at Société Générale notes that the index will likely rally back toward the 114.8 high.
Greenback Index Starts Climbing Again After the Recent Pullback, Société Générale Economists See a ‘Prevalence of Upward Momentum’
The U.S. dollar, otherwise known as....
The recent nerves in the stock market and macro world has caused the dollar to surges to a new 2021 high, just as Bitcoin continues to set new records. But is the greenback’s awakening a dangerous situation for cryptocurrencies, or is something else afoot? BTC Barely Reacts As DXY Taps New 2021 High Bitcoin price is in price discovery mode, after breaking its former high set earlier in the year. The cryptocurrency is pitched as a replacement for gold, and even the dollar – the current global reserve currency. Cryptocurrencies, commodities, and everything else are priced in dollars....
The U.S. dollar currency index breaks through resistance to hit its highest level since 2002 — to the detriment of practically everything. Bitcoin (BTC) made a fresh bid to crack $40,000 on April 28 as Wall Street trading opened to twenty-year highs for U.S. dollar strength.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDXY now in "parabolic rally"Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting a high of $39,883 on Bitstamp before momentum waned, sending the pair $800 lower hours later.Traders had predicted what they saw as a relief bounce, with the....
U.S. inflation comes in a full 0.3% higher than expected, causing a dollar strength spike and the euro to fall below parity with USD. Bitcoin (BTC) fell $800 in minutes on July 13 as the latest United States Consumer Price Index (CPI) data came in far ahead of estimates.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDollar smashes new 20-year highs on hot CPIData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dived under $19,000 minutes after the June CPI print, which put U.S. inflation at 9.1%.Expectations had favored 8.8% CPI year-on-year, this still....
Rising jobless claims in the U.S. sparked sell-offs in the dollar market. On the other hand, Bitcoin held onto its intraday gains. Bitcoin (BTC) looks to reclaim $45,000 on Oct. 1 as the United States dollar retreated lower after hitting its one-year high. Bitcoin’s tight inverse correlation with the greenback over the past month suggests that a weakening dollar could push BTC’s price even higher in the coming sessions. Bitcoin-dollar correlation on hourly chart. Source: TradingViewDollar drops following labor market shockIn detail, the U.S. Dollar Index (DXY), which measures the dollar’s....