DXY 250123 Daily Chart
U.S. Dollar Index remains stuck near the 102 level as traders wait for catalysts. There are no important economic reports scheduled to be released in the U.S. today, so traders will stay focused on general market sentiment.
EUR/USD
EUR/USD 250123 Daily Chart
EUR/USD has recently made an attempt to settle above the 1.0900 level. Traders bet that ECB will be forced to raise rates aggressively in order to fight inflation. At the same time, the Fed is expected to slow the pace of rate hikes.
The difference between the expected Fed policy and ECB policy is bullish for the European currency. From the technical point of view, RSI is close to the overbought territory, but there is enough room to gain additional upside momentum.
GBP/USD
GBP/USD 250123 Daily Chart
GBP/USD rebounds after yesterday’s pullback. Currently, GBP/USD is trying to settles above the 1.2350 level.
Today, traders focused on UK Producer Prices…
