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BREAKING: Dollar Index Jumps as Stock Market Rally Pauses

Verified Official
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  • Mild risk-off pushes the safe-haven dollar higher. 
  • Investors reassess the risk of a near-term coronavirus-led economic slowdown. 

The dollar index (DXY), which tracks the greenback's value against majors, advanced on Thursday as a bull run in stocks took a breather, with investors reassessing coronavirus vaccine optimism. 

The DXY traded 0.22% higher on the day near 92.50 during the Asian trading hours alongside moderate losses in the major Asian equity indices such as Japan's Nikkei, Hong Kong's Hang Seng and South Korea's Kopsi. 

During the overnight trade, the risk sentiment weakened with investors selling the U.S. stocks on fears of renewed coronavirus lockdown restrictions. 

Comments from the World Health Organization Director Michael Ryan that vaccines would be available in large numbers in four to six months forced investors to scale back the optimism and consider the possibility of a near-term economic slowdown.  Further, the U.S. House Speaker Nancy Pelosi's rigid stand on the stimulus package worked against the equities. 

As such, the safe-haven dollar picked up a bid. However, the gains were muted as investors continued to believe that the Federal Reserve would boost monetary stimulus, compensating for the lack of effort on the fiscal front. 

Technical levels

Dollar Index Spot

Overview
Today last price 92.52
Today Daily Change 0.11
Today Daily Change % 0.12
Today daily open 92.41
Trends
Daily SMA20 93.03
Daily SMA50 93.34
Daily SMA100 93.72
Daily SMA200 96.29
Levels
Previous Daily High 92.51
Previous Daily Low 92.21
Previous Weekly High 93.21
Previous Weekly Low 92.13
Previous Monthly High 94.1
Previous Monthly Low 92.47
Daily Fibonacci 38.2% 92.33
Daily Fibonacci 61.8% 92.4
Daily Pivot Point S1 92.24
Daily Pivot Point S2 92.08
Daily Pivot Point S3 91.94
Daily Pivot Point R1 92.54
Daily Pivot Point R2 92.68
Daily Pivot Point R3 92.84

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