Dollar moves a bit higher on Powell news. New 2021 high for the DXY.

The  DXY is above the 50% of the range from the 2020 high.

The DXY index has moved up and traded at the highest level since July 2020.  The price has been ticking higher but has so far closed below the 50% of the trading ranges since 2020. Friday was the highest close in the current cycle. That close level came in at 96.06. That was just below the midpoint at 95.094.

The move higher has taken the new 2021 high to 96.32 and more comfortably above the 50% level. Stay above the 50% is more bullish.  

The US stocks are a bit higher with the pre-market futures implying:

• Dow up 161 point
• S&P up  up 19.25 points
  
• NASDAQ up 83 points
  

Yields are higher with the 5 year up 6.6 basis points. It was up 4.6 basis points at the start of the North American session.

November 23, 2021 at 02:16AM

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