[USDX] Rising Dollar 2019 1109

Dollar Index four-hour chart, source:FXStreet.com

cf. [USDX] Trying Rebound 2019 1104
cf. [EUR] Facing Resistance Line 2019 1103
cf. [USDX] Ahead of Fed Decision 2019 1030

The small deal of the U.S.-Sino trade war is not clear yet. Donald Trump, the U.S. President spoke nothing is agreed about tariff withdrawal and over-shooting from the expectation the agreement of small deal calmed down. As the first step of the agreement is not clear, market is cautious of risky asset such as emerging market's currencies.

And U.S. dollar fell against safe-haven asset Japanese yen, rose against euro.

A strategist of ACLS spoke, investors and traders bought greenback as trade war between top 2 economy entities seemed to be deteriorated and now buy dollar due to the expectation of trade-tension relaxation and the U.S. economy's soft landing.

Analysts at MUFG Bank see more gains ahead of the US dollar as stronger economic data highlights that fears over a sharp slowdown in the United States and recent weakness are overdone.

But dollar and dollar index, price of greenback against the basket of major six currencies will move up by restrained range, some economists analyse.

Younhap Infomax reported on Saturday, Bank of America Merrill Lynch(BofAML) expected optimism to dollar will disappear after all. Because trade tension will moderate and global economy rebound. BofAML is still optimistic about economy and they anticipate dollar down in next year.

Dollar Index, USDX is 98.37 at the end of week and keeps upward trend. Four-hour chart of dollar index rebounded at the bottom of 97.18. If it succeeds to rise, the double-bottom pattern is built. And it supports dollar index upward.

Greenback still appeals but we need to keep in mind rising economic optimism. The recovery of global economy means weak dollar and strong emerging market's currencies.








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