- The markets are developing recent advertisements on copper definitions and Russia-Ukraine negotiations.
- The United States in February, permanent goods are great on expectations and ups in the upcoming reading.
- The US dollar index sees support at 104.00 and returns to the top 104.50
The US dollar index (DXY), which tracks the performance of the US dollar (USD) for six major currencies, is just a few shy cents of 104.50 and is lambs on Wednesday after issuing permanent commodity data in the United States for the month of February.
On the one hand, DXY sees some pressure on the sale of a ceasefire deal in the Black Sea in which the United States (United States) has mediated, where Ukraine is ready to commit and Russia to retreat and demand the elevator in all sanctions on banks and agricultural companies.
On the other hand, the purchase pressure comes from comments from US President Donald Trump, who said that the copper tariff is coming within two weeks, much closer to what the markets expected.
On the economic data interface, the orders of permanent goods in February pushes Greenback up. The expectations were very declining, with 1 % shrinkage of prediction compared to the previous month’s increase by 3.2 %. Instead, the sudden positive number and the emerging review of the previous reading makes the US dollar appreciate. On the Federal Reserve Front (Fed), the Federal Reserve Chairman at Minneapolis Nile Kashkari and St. Lewis, Alberto Massalm later on Wednesday.
Daily Digest Market Movers: Big Beat Beat
- At 11:00 GMT, the Mortgage Banking Association (MBA) issued a weekly mortgage request number. The number of this week came by -2 % compared to the previous contraction of 6.2 %.
- At 12:30 GMT, permanent goods orders were in February:
- Title orders jumped to 0.9 %, which is a great victory over -1 %, with a review and from 3.2 % to 3.3 %.
- The durable goods, with the exception of transport, were 0.7 % optimistic, exceeding the scanner number by 0.2 %. 0.0 % was reviewed in the previous month of up to 0.1 %.
- At approximately 14:00 GMT, the President of the Federal Reserve in Minneapolis, Neil Kackari, will host an event in the Federal Reserve and a conversation at the Detroit Regional Trade Summit in Detroit Lakes in Detroit Lakes, Minnesota.
- Just 10 minutes after Kashkari, the Federal Reserve Chairman in St. Luis Alberto Muslol will speak at the lunch of the Chamber of Commerce in the Baduka region/economic development lunch in Baduka.
- The stocks do not shatter any utensils on Wednesday, with high gains in Asia and slight losses in Europe and in the US futures.
- According to the CME Fedwatch tool, the possibility of the remaining interest rates in the current range of 4.25 % -4.50 % at the May meeting is 88.4 %. For the month of June, borrowing costs are 65.6 % lower.
- The return in the United States is trading for 10 years about 4.34 %, with the vision of bond dealers crawling with the high rate of the difference between the United States and other major countries again.
Technical analysis
The US dollar index (DXY) is merged on Wednesday. Technically, support at 104.00 is good for apostasy, while concerns about definitions and influencing the American economy support the power of the US dollar. On the contrary, the ongoing talks on the peace deal of Russia, Ukraine, means that a sigh of relief can extend across the markets, which weighs in US dollars.
With the weekly closure above 104.00 last week, a large racing is still possible towards the 105.00 circle level, with a simple moving average for 200 days (SMA) at that point and reinforces this area as a strong resistance at 104.96. Once it is broken in that area, it can limit a series of pivotal levels, such as 105.53 and 105.89, of upward momentum.
On the negative side, the round level is 104.00 the first close support after a successful bounce on Tuesday. If this is not unlimited, the DXY risk reference to that march between 104.00 and 103.00. Once you wipe the bottom at 103.00, watched from 101.90 on the downside.
US dollar index: daily chart
Common questions between the United States of China for war
In general, the trade war is an economic conflict between the two countries or more due to severe protectionism at one party. It involves the creation of commercial barriers, such as customs tariffs, which lead to anti -import barriers, and to import costs, and thus the cost of living.
The economic conflict between the United States (the United States) and China began in early 2018, when President Donald Trump laid commercial barriers on China, claiming unfair commercial practices and theft of intellectual property from the Asian giant. China has taken retaliatory measures and imposed a tariff on multiple American goods, such as cars and soybeans. Tensions escalated until the two countries signed the commercial deal for the first stage of the United States of China in January 2020. The agreement requires structural reforms and other changes on the economic and commercial system in China and demonstrated by restoring stability and confidence between the two countries. However, the Koronavus virus’s pandemic took the focus from the conflict. However, it should be noted that President Joe Biden, who took office after Trump, maintained the customs tariff in his place and added some additional fees.
Donald Trump’s return to the White House as an American president ignited 47 new waves of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60 % of the customs tariff on China once he returns to his position, which he did on January 20, 2025. With the emergence of Trump, the American trade war and China aim to resume the place where it was left, with policies for corrections that affect global economic records in nutrition in nutrition.
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