{"id":16380,"date":"2012-07-18T06:29:35","date_gmt":"2012-07-18T04:29:35","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/16380\/short-term-outlook-for-the-us-dollar-index-remains-on-the-upside-according-to-rbs\/"},"modified":"2012-07-18T06:29:35","modified_gmt":"2012-07-18T04:29:35","slug":"short-term-outlook-for-the-us-dollar-index-remains-on-the-upside-according-to-rbs","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/16380\/short-term-outlook-for-the-us-dollar-index-remains-on-the-upside-according-to-rbs\/","title":{"rendered":"Short term outlook for the US Dollar Index remains on the upside according to RBS"},"content":{"rendered":"

The short term outlook for the US Dollar Index remains on the upside according to RBS, which may run inline with comments from US Fed chairman Ben Bernanke who provided few concrete clues yesterday on whether the US central bank was moving closer to a fresh round of monetary stimulus.<\/p>\n

Some investors had hoped the Fed chief would signal that the central bank was moving close to a third round of bond purchases in market parlance to support the American economy.<\/p>\n

The Fed next meets on July 31-August 1. Few economists expect it to take further steps to spur the recovery then, but many think fresh stimulus measures could come as early as the subsequent meeting in September.<\/p>\n

“I think the issue is not if but when we’ll have another round of quantitative easing,” said Nouriel Roubini, chairman of Roubini Global Economics.<\/p>\n

Dollar Index Resistance Level<\/strong><\/p>\n

The ICE US Dollar Index<\/a> has managed to break above an important resistance and according to RBS: this zone is confluent with the 100 month moving average, the Ichimoku cloud, June\u2019s low and the highs from Nov 2010 Dec 2010 and Jan 2011.<\/p>\n

“The USD gets stronger in its index in the short\/medium \u2026 before beginning to weaken again in Q4 of this year,” says RBS. “In keeping with the multi year trend look for this to begin to tire between 86.20 and 86.40 and begin to move lower again towards the cloud and the pivotal 81.44 level.”<\/p>\n

The dollar has made gains against the world’s major currencies in recent weeks as debt concerns in the euro zone drag the shared currency lower. “The euro looks heavy against pretty much everything Vs. the USD and NZD particularly in the short term. EUR\/GBP continues to fail as it approaches 0.8100 and the AUD and GBP look like they want to range for now” commented William Moore at RBS earlier this month.<\/p>\n<\/p>\n

Here is the original:\u00a0
\nShort term outlook for the US Dollar Index remains on the upside according to RBS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The short term outlook for the US Dollar Index remains on the upside according to RBS, which may run inline with comments from US Fed chairman Ben Bernanke who provided few concrete clues yesterday on whether the US central bank was moving closer to a fresh round of monetary stimulus. Some investors had hoped the Fed chief would signal that the central bank was moving close to a third round of bond purchases in market parlance to support the American economy. The Fed next meets on July 31-August 1. Few economists expect it to take further steps to spur the recovery then, but many think fresh stimulus measures could come as early as the subsequent meeting in September. “I think the issue is not if but when we’ll have another round of quantitative easing,” said Nouriel Roubini, chairman of Roubini Global Economics. Dollar Index Resistance Level The ICE US Dollar Index has managed to break above an important resistance and according to RBS: this zone is confluent with the 100 month moving average, the Ichimoku cloud, June\u2019s low and the highs from Nov 2010 Dec 2010 and Jan 2011. “The USD gets stronger in its index in the short\/medium \u2026 before beginning to weaken again in Q4 of this year,” says RBS. “In keeping with the multi year trend look for this to begin to tire between 86.20 and 86.40 and begin to move lower again towards the cloud and the pivotal 81.44 level.” The dollar has made gains against the world’s major currencies in recent weeks as debt concerns in the euro zone drag the shared currency lower. “The euro looks heavy against pretty much everything Vs. the USD and NZD particularly in the short term. EUR\/GBP continues to fail as it approaches 0.8100 and the AUD and GBP look like they want to range for now” commented William Moore at RBS earlier this month. <\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-16380","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/16380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=16380"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/16380\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=16380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=16380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=16380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}