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Friday, July 23, 2021
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US Dollar Index Calm Before Election

#USDollar #election

$DXY $USD $AUD $NZD $EUR $GBP $JPY

The US Dollar hanging just below a 1-month high Tuesday, as investors opted for caution in the hours ahead of polls opening on election day in the United States, while the Aussie slipped after a central bank rate cut.

Against a basket of peer currencies, the Buck held at 93.996, just under a month-high marked Monday. The safe-harbor JPY has moved higher in recent weeks and it was steady at 104.72 JPY/USD through the Asia session.

The Aussie fell 0.2% and Australian bonds rallied after the Reserve Bank of Australia (RBA) lowered its policy interest rate by 15 bpts to 0.1% and announced a bond-buying program, as expected.

Across the board, trading volume was lightened by a public holiday in Japan and moves muted as most investors have settled on a pre-election stance.

The New Zealand dollar (Kiwi) slipped marginally to $0.6626. The EUR rose to tap at $1.1652 and the GBP was held just below $1.30.

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.   

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