US Dollar Index To Slip

May 31st 2024 –  The pricing of the US Dollar against a basket of global currencies, known as the US Dollar Index (or DXY) is now exhibiting a negative short-term trend reports Trend Intelligence, as the index has fallen  around 1.5% from its late April/early May 2024 high and now trades at around 105 points.

Trend’s Analysis (click chart to expand): Trend’s R* Momentum Indicator creates a clear visual representation of price trends in play across asset classes and financial instruments. In our US Dollar Index chart, Trend Intelligence reports negatively trending R* and R* Signal lines, with both indicators now operating below the critical zero line.  This is, and has shown over time to be, a negative trend signal.

In addition to the R* indicator, price currently trades below 2 of Trend’s moving averages (short-term and medium-term) and within our Japanese Cloud indicator in pink shading. 

The combination of these signals corroborates Trend’s negative short-term trend rating on the DXY Index looking negative for the future weeks ahead.

Downside Sentiment: The dollar fell this week after revised data showed that gross domestic product grew at slower pace than previously expected in the first quarter. The U.S. economy grew at a 1.3% annualized rate from January through March, reduced from an expected 1.6% after there were changes to consumer spending, reports Reuters News. 

Upside Sentiment: The prospect of less easing by the Federal Reserve (Fed) this year has taken the dollar to new highs — and should underpin its strength going forward. This is particularly true if other developed market central banks act to cut interest rates before the Fed, reports JP Morgan.

Authored by: Trend Intelligence, London

Recently published
Bumble Loses Its Love

Bumble Loses Its Love

July 6th 2025 – Bumble CEO Whitney Wolfe Herd has announced that her company would eliminate about 30 per cent of its global workforce, with more than 160 roles in London to be cut. The online dating group’s founder who returned to the business in March,  stated that...

Middle East War Fights Crude Prices Into New Trend

Middle East War Fights Crude Prices Into New Trend

June 23rd 2025 – The US bombing of Iranian nuclear sites over the weekend is pushing WTI crude oil prices further into an aggressive positive trend, reports Trend Intelligence. The news comes as President Donald Trump threatened the possibility of continuing strikes...

JD Vance Hails Crypto As “Mainstream” For US Investors

JD Vance Hails Crypto As “Mainstream” For US Investors

May 28th 2025 – US Vice President JD Vance this week vowed pro-innovation rules for US digital assets like Bitcoin - and praised Bitcoin investors for supporting Trump in the 2024 presidential race. “We want our fellow Americans to know that crypto and digital assets,...

Trump To Ease Car Parts Tariffs, As Tesla Stalls

Trump To Ease Car Parts Tariffs, As Tesla Stalls

April 24th 2025 – President Donald Trump is planning to spare US carmakers such as Tesla from the impact of some of his new tariffs, in another trade war climbdown following auto industry lobbying. The expected move would exempt car parts from the tariffs imposed on...

Bumble Loses Its Love

Bumble Loses Its Love

July 6th 2025 – Bumble CEO Whitney Wolfe Herd has announced that her company would eliminate about 30 per cent of its global workforce, with more than 160 roles in London to be cut. The online dating group’s founder who returned to the business in March,  stated that...

Middle East War Fights Crude Prices Into New Trend

Middle East War Fights Crude Prices Into New Trend

June 23rd 2025 – The US bombing of Iranian nuclear sites over the weekend is pushing WTI crude oil prices further into an aggressive positive trend, reports Trend Intelligence. The news comes as President Donald Trump threatened the possibility of continuing strikes...

JD Vance Hails Crypto As “Mainstream” For US Investors

JD Vance Hails Crypto As “Mainstream” For US Investors

May 28th 2025 – US Vice President JD Vance this week vowed pro-innovation rules for US digital assets like Bitcoin - and praised Bitcoin investors for supporting Trump in the 2024 presidential race. “We want our fellow Americans to know that crypto and digital assets,...

Trump To Ease Car Parts Tariffs, As Tesla Stalls

Trump To Ease Car Parts Tariffs, As Tesla Stalls

April 24th 2025 – President Donald Trump is planning to spare US carmakers such as Tesla from the impact of some of his new tariffs, in another trade war climbdown following auto industry lobbying. The expected move would exempt car parts from the tariffs imposed on...