{"id":18480,"date":"2021-11-19T18:40:00","date_gmt":"2021-11-19T18:40:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=18480"},"modified":"2021-11-19T23:26:50","modified_gmt":"2021-11-19T23:26:50","slug":"us-dollar-index-closes-higher-for-the-4th-consecutive-week","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/us-dollar-index-closes-higher-for-the-4th-consecutive-week\/","title":{"rendered":"US dollar index closes higher for the 4th consecutive week"},"content":{"rendered":"\t\t
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Market Wrap<\/strong><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The ActivTrader sentiment indicator for the Brent oil<\/a> contract shows that 90% of traders on the platform are bullish this asset. That is an extreme reading and for a contrarian trader one that should be faded. Fundamentally and depending on who you ask the oil markets are currently in a supply deficit. The worry today is that a major trading block, ie. Europe, maybe on a path to widespread lockdowns, that spread across the continent and surrounding countries.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Brent fell on the news that Austria was entering into a full lockdown and on comments by German officials who were gravely concerned about the rising levels of infections. This is now coming on top of calls for countries with emergency reserves to release some oil into the market to alleviate pricing pressures being faced by citizens who are struggling with the rising cost of living.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The US dollar<\/a> is set to close green for the 4th<\/sup> consecutive week as FOMC members this afternoon stated that they could see the tapering accelerating from December\u2019s meeting. This would then give the Fed some room to raise rates in 2022. This week\u2019s retail sales and Industrial Production data gave the dollar a boost and the Hawkish Fed speakers have kept the greenback supported.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The US equities are currently having mixed fortunes today, but the Nasdaq<\/a> has started to ascend to daily, new, all-time highs as it reaches for 17,000. The highs today at the time of writing were in the 16,600\u2019s and we could see some end of week profit taking as next week is a US holiday week. The Nasdaq is up 2.45% for the week and nearing 8% for the month.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The GBPUSD<\/a> is having a tough time underneath the 1.3500 level which is acting as solid resistance. With the DXY clearly trading above the Ichimoku cloud on the weekly time frame, and the FOMC members talking up a faster taper, it is highly possible that the GBPUSD comes under some significant pressure in the coming weeks.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The EURUSD<\/a> had a bit of respite as the hourly chart price action and the stochastic indicator (10,3,3) had a bullish divergence as the price touched the descending channels low for a second time. If Germany doesn\u2019t go into full lock down this will slow the descent of the euro against a stronger dollar. If Germany does go into lockdown, this could accelerate to the downside.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Market Wrap The ActivTrader sentiment indicator for the Brent oil contract shows that 90% of traders on the platform are bullish this asset. That is an extreme reading and for a contrarian trader one that should be faded. Fundamentally and depending on who you ask the oil markets are currently in a supply deficit. The […]<\/p>\n","protected":false},"author":5,"featured_media":18481,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[58,64,18,69,20,101,67],"yoast_head":"\nUS dollar index closes higher for the 4th consecutive week - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/us-dollar-index-closes-higher-for-the-4th-consecutive-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US dollar index closes higher for the 4th consecutive week\" \/>\n<meta property=\"og:description\" content=\"Market Wrap The ActivTrader sentiment indicator for the Brent oil contract shows that 90% of traders on the platform are bullish this asset. That is an extreme reading and for a contrarian trader one that should be faded. Fundamentally and depending on who you ask the oil markets are currently in a supply deficit. 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