Markets had been largely quiet in a single day with US and UK markets closed for public vacation. DXY was final at 99.29 ranges, OCBC’s FX analysts Frances Cheung and Christopher Wong be aware.
Consolidation not dominated out intra-day
“Each day momentum reveals indicators of turning delicate bearish however decline in RSI reveals indicators of moderation. Consolidation not dominated out intra-day. Subsequent assist at 97.90 (2025 low), 97.40 ranges. Resistance at 100.1 (21 DMA) and 100.80 (23.6% fibo retracement of 2025 peak to trough).”
“For now, tariff uncertainties have re-surfaced following Trump’s tariff menace on EU (though it’s delayed) and smartphone makers. It stays unclear if tariffs on pharmaceutical and semiconductors are nonetheless coming. Two weeks in the past, Trump additionally mentioned that the US will ship letters to a few of its buying and selling companions to unilaterally impose new tariff charges within the coming weeks.”
“Additionally it is unclear if these are new tariff charges on prime of these earlier introduced or in the event that they supersede beforehand introduced tariffs charges. Coverage unpredictability surrounding Trump’s tariffs, ballooning debt and deficits are some US-centric dangers which will proceed to undermine confidence within the USD.”
