US Dollar Index faces selling pressure at 20-day moving average despite strong Durable Goods Orders

DXY Index is trading at 104.7, showcasing 0.35% losses. Durable Good orders from the US came in higher than expected but didn’t trigger movement from Greenback. Fed maintains cautious stance on premature easing, hinting at lower chances for swift interest rate cuts which cushions the USD. The US Dollar Index is currently trading at 104.7, experiencing some losses despite positive indications from the economy.

However, as long as it remains below the 20-day SMA, the short-term outlook will be painted with red. US Dollar FAQs What is the US Dollar? The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.

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