The dollar remains offered below the 90.00 mark. Investors remain biased towards the riskier assets in the new year. Markit’s final Manufacturing PMI is only due later in the NA session. The greenback, when gauged by the US Dollar Index (DXY), starts the year on the negative footing and approaches the 2020 lows in the mid-89.00s. US Dollar Index looks weak below 90.00 The dollar resumes the downside and extends the trade below the 90.00 yardstick on Monday, as the generalized sentiment continues to favour the risk complex. In fact, investors keep looking past the pandemic amidst the ongoing vaccine rollout and firm hopes of a V-shaped global rebound in the economic activity. The current sentiment dominating the riskier assets is also reinforced by the huge amount of fiscal and monetary stimulus delivered by the US government, the Fed as well as by many central banks and governments across the world. In the US data sphere, the only release of note will be the final December Manufacturing PMI measured by Markit ahead of the ISM Manufacturing (Tuesday), the ADP report and Factory Orders (Wednesday), Initial Claims and the ISM Non-Manufacturing (Thursday) and Nonfarm Payrolls (Friday). What to look for around USD The index regains downside momentum at the start of the new year, always on the back of the broad-based upbeat mood in the risk-associated universe. In addition, the outlook for the greenback remains immersed into the bearish side amidst extra monetary/fiscal stimulus in the US economy, the “lower for longer” stance from the Federal Reserve and prospects of a strong recovery in the global economy. US Dollar Index relevant levels At the moment, the index is retreating 0.35% at 89.61 and faces the next support at 89.51 (2020 low Dec.31) followed by 89.22 (monthly low Apr. 2018) and then 88.94 (monthly low March 2018). On the upside, a breakout of 91.01 (weekly high Dec.21) would aim for 91.23 (weekly high Dec.7) and finally 91.92 (23.6% Fibo of the 2017-2018 drop). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP refreshes session tops, around 0.8970 region ahead of Eurozone/UK PMIs FX Street 1 year The dollar remains offered below the 90.00 mark. Investors remain biased towards the riskier assets in the new year. Markit’s final Manufacturing PMI is only due later in the NA session. The greenback, when gauged by the US Dollar Index (DXY), starts the year on the negative footing and approaches the 2020 lows in the mid-89.00s. US Dollar Index looks weak below 90.00 The dollar resumes the downside and extends the trade below the 90.00 yardstick on Monday, as the generalized sentiment continues to favour the risk complex. In fact, investors keep looking past the pandemic amidst the ongoing vaccine… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
