Bearish US dollar index (DXY) bets near decade high as 2020 draws to an end – Bloomberg

Anil Panchal FXStreet

Early Tuesday, Bloomberg came out with any analysis, based on non-commercial positions in futures linked to the Intercontinental Exchange (ICE), portraying the US dollar’s broad weakness.

The analytical piece initially cites data from the Commodity Futures Trading Commission (CFTC) to confirm that the net short non-commercial positions in futures linked to the ICE US Dollar Index (DXY) have surged to the most since March 2011.

While emphasizing the 6% drop of the greenback’s gauge, the piece quotes analysts from Goldman Sachs as saying, “We see depreciation in the dollar continuing into 2021. Liquidity dynamics and virus news flow may influence the timing of dollar weakness, but not necessarily the medium-term downtrend.”

DXY remains pressured…

DXY bears the burden of risk-on sentiment while flashing 0.20% intraday losses to 90.11 by press time. In doing so, the US dollar barometer drops the most after the last Wednesday.

additional important levels

Overview
Today last price	90.13
Today Daily Change	-0.16
Today Daily Change %	-0.18%
Today daily open	90.29

Trends
Daily SMA20	90.57
Daily SMA50	91.9
Daily SMA100	92.6
Daily SMA200	95.21

Levels
Previous Daily High	90.38
Previous Daily Low	89.98
Previous Weekly High	91.02
Previous Weekly Low	90.02
Previous Monthly High	94.31
Previous Monthly Low	91.5
Daily Fibonacci 38.2%	90.23
Daily Fibonacci 61.8%	90.13
Daily Pivot Point S1	90.05
Daily Pivot Point S2	89.82
Daily Pivot Point S3	89.66
Daily Pivot Point R1	90.45
Daily Pivot Point R2	90.61
Daily Pivot Point R3	90.85

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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