DXY: All eyes on US Core PCE – OCBC
The Dollar Index (DXY) eased off recent highs, alongside the dip in UST yields, FX strategist at OCBC Christopher Wong notes.
US Core PCE has everyone’s attention
“Third reading of 1Q GDP report reinforced the view of growing strains on US consumer. Personal consumption was revised down to 1.5% (vs. 2% prior). Data focus today on PCE core (8:30pm SGT). Softer core CPI, PPI readings in May should see core PCE print lower.”
“A weaker than expected print should raise hopes for Fed rate cut. This should also tamper US Dollar (USD) gains, but hotter print may continue to fuel USD momentum.”
“DXY was last at 105.83. Bullish momentum on daily chart intact while RSI was flat. Resistance at 106.20. Support at 105.20 (21, 50 DMAs), 104.80 (61.8% fibo retracement of Oct high to 2024 low). Quarter-end and month-end flows may distort price action today.”
Related Articles
A Shift from Hardware to Software in the AI Industry Cycle - These AI Software Stocks Deserve Attention!
TradingKey – The rapid development of artificial intelligence (AI) technology has shifted the spotlight from proprietary models like ChatGPT to open-source alternatives like DeepSeek in just a few years. Capital markets are now pricing in a new AI cycle: the transition from the AI hardware era to...
Bank of Japan Interest Rate Decision Preview: Pause on Rate Hikes Already Priced In, Minimal Market Movement Expected on the Day
On 19 March 2025, the Bank of Japan (BoJ) will announce its March interest rate decision. The market widely expects the central bank to maintain its policy rate unchanged at 0.5%. We align with this consensus forecast.
[IN-DEPTH ANALYSIS] Coinbase: The Next Chapter of Crypto from Trading to Consumer Apps
Our valuation estimates its intrinsic worth at $75–$87 billion, suggesting meaningful upside potential from its current market cap of $50 billion. While risks such as regulatory uncertainty and crypto market volatility remain, Coinbase’s diversified revenue streams and strong execution capabilities
[IN-DEPTH ANALYSIS] Walmart (WMT): When a Strong Business Model Faces Economic Challenges
With growth further moderating and too many headwinds hitting the margins we would likely see stagnant to negative growth in earnings, which makes the current share price of $85.00 less attractive.
