US Dollar Index Fundamental Analysis Outlook For Next Week
Looking back at last week, after three consecutive weeks of sharp rises, the US dollar finally ushered in a correction, and the single-week decline was relatively large, nearly half of the previous increase.
However, the weekly line of the the US Dollar Index still shows an obvious bullish technical form. Combined with the current fundamental situation, it is more likely that the market outlook will remain strong. In terms of non-US currencies, the yen surged due to inflation data; Looking ahead to this week, the U.S. non-farm payrolls report and public speeches of Federal Reserve officials will be the focus of the market.
Global foreign exchange focus review and fundamental summary
After rising for three consecutive weeks, the US dollar experienced a weekly correction, and the follow-up trend of the market was quite divergent
After three consecutive weeks of sharp surges, the US dollar ushered in a week of falling back, giving up almost half of its gains, but the overall trend still showed a relatively obvious upward trend. At present, there are big differences in the subsequent short-term trend of the US dollar. Some analysts believe that the US dollar will lose its upward momentum and fluctuate in the short term. Some believe that despite the recent rise, the US dollar has not fully reflected the potential risk of renewed trade tensions, and there is still much room for growth. Affected by this, the recent performance of U.S. economic data and the public statements of Federal Reserve officials will play an important role and deserve special attention.
2. Trend analysis of foreign exchange futures and options
2.2. Futures market position analysis
According to the 2024-11-19 futures market position report released by the U.S. Commodity Futures Commission, the total reported positions of various currencies last week are as follows:
The net long position of the euro changed by 3,985 lots, the net long position of the Australian dollar changed by 7,547 lots, and the net long position of the British pound changed by 5,157 lots. The net short position of the Japanese yen changed by 4,529 lots, the net short position of the Canadian dollar changed by 1,705 lots, and the net long position of the New Zealand dollar changed by 1,533 lots. In addition, the currencies with a one-way total position change of more than 20% are: New Zealand Dollar.
3. Important observation indicators of the market outlook
$NQ100 Index Main 2412 (NQmain) $$SP500 Index Main 2412 (ESmain) $$Dow Jones Index Main 2412 (YMmain) $$Gold Main 2502 (GCmain) $$WTI Crude Oil Main 2501 (CLmain) $
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