Summary

• The Dollar Index (DXY) did not snap its losing streak yesterday but extended it for its eighth consecutive session. The streak may end today if the dollar’s gains are sustained.
• CAD remained firm yesterday and finished strongly. USD held slightly below Monday’s high (~CAD1.3795) in early North American dealings. It slipped below CAD1.3715, the lowest level since March 23. It has steadied in the European morning and moved back into yesterday’s range.
• AUD reached almost $0.7180 yesterday and extended the gains to almost $0.7200 today to reach its best level since mid-2022. The upward momentum was not sustained, and the Aussie has slipped through its closing levels and is slightly lower on the day.
• The US S&P 500 and Nasdaq equity indices reached record highs yesterday, and the positive sentiment spilled over into the Asia-Pacific region. Most of the large bourses gained at least 1%, and the Nikkei’s nearly 2.4% was sufficient to lift it to a record high.
• Europe’s STOXX 600 has been alternating daily between gains and losses for nearly two weeks. Yesterday was a down day, so today it is up.

The Dollar Index (DXY) did not snap its losing streak yesterday but extended it for its eighth consecutive session to match the longest downdraft since April 2011. The streak may end today if the

17.17K Followers