Contributors Technical Analysis Markets Sideways While USD Index Can Be Looking for New Buyers Around...

Markets Sideways While USD Index Can Be Looking for New Buyers Around 106

Markets are a bit slow, stocks sideways, same with USD, the only movers are commodities, with gold breaking higher while crude oil is also moving into resistances. Today, we got UK inflation data, its 6.7% on a yearly basis, so it was somehow a muted reaction as expectations were not far away. But there can be some more volatile sessions later as US President Joe Biden is expected to arrive in Israel for a meeting, so any news from that region will certainly impact the markets. Looking at DXY we see it at the potential support here, around the channel line that can become an interesting support near 106.00. I think there is still a chance for a new push higher, close to 107.

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