22.5 C
New York
Monday, September 27, 2021

The US Dollar is Headed Due South

#USD #Dollar #Buck #Greenback #bitcoin


“We here at HeffX-LTN see the USD falling thought-out this year and next” — Paul Ebeling

USD is headed for its worst back-to-back weekly decliner this yr on the continuing retreat in Treasury yields from more-than-1-yr highs as investors are buying into the Fed’s insistence of continued monetary support.

The benchmark 10-yr T-Note yield dipped to a 1-month low of 1.528% Thursday from as high as 1.776% at the end of last month in the face of Thursday’s stronger-than-expected retail sales and employment data.

San Francisco Fed President Mary Daly said that the US economy is still far from making “substantial progress” toward the Fed’s goals of 2% inflation and full employment.

.DXY tracks the Greenback against 6 peers, dipped to a 1-month low of 91.487 Thursday before recovering flat at 91.678 early in the Asia-Pacific session Friday.

The Buck is set for a 0.6% decliner for the wk, extending the 0.9% slide from last wk.

In cryptocurrencies

Bitcoin stood around $63,478, near the record high of $64,895 marked Wednesday, when cryptocurrency platform Coinbase (NASDAQ:COIN) made its debut in a direct listing

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

Related Articles

Stay Connected

- Advertisement -spot_img

Latest Articles