USD INDEX: BREAK BELOW 200-DMA AT 103.78 TO CLEAR PATH FOR RETURN TO FEBRUARY LOW NEAR 103.00

28 Feb 2024, 12:35 · Views 89

The US Dollar (USD) ended a run of five weeks of gains. Economists at Société Générale analyze Greenback’s outlook.

Month-end equity rebalancing flows could keep USD on the back until Thursday’s PCE

Month-end equity rebalancing flows could keep the Dollar on the back foot until the release of PCE inflation on Thursday.

The reconvergence of the DXY towards the 200-DMA (103.78) requires close scrutiny. A break below would clear the path for a return to early February lows near 103.00 and could guide EUR/USD above 1.0900, GBP/USD over 1.2750 and AUD/USD towards 0.6600.

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USD INDEX: BREAK BELOW 200-DMA AT 103.78 TO CLEAR PATH FOR RETURN TO FEBRUARY LOW NEAR 103.00 – SOCGEN

Month-end equity rebalancing flows could keep USD on the back until Thursday’s PCE