USD Index: Gains are showing signs of moderating and possibly reversing – Scotiabank

Market news

4 August 2023

USD Index: Gains are showing signs of moderating and possibly reversing – Scotiabank

The USD is trading mixed to slightly firmer as markets show signs of calming after the volatility seen earlier in the week. Economists at Scotiabank analyze Greenback’s outlook.

A lower close today would point to some corrective – bearish – pressure developing

The USD has had a solid week but gains are showing signs of moderating (and possibly reversing) on the charts.

A lower close on the day would be a technical negative for the DXY and point to some corrective (bearish) pressure developing.

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