{"id":18288,"date":"2021-11-17T07:24:30","date_gmt":"2021-11-17T06:24:30","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=18288\/"},"modified":"2021-11-17T07:24:30","modified_gmt":"2021-11-17T06:24:30","slug":"how-long-will-the-us-dollar-rise","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/how-long-will-the-us-dollar-rise\/","title":{"rendered":"How long will the US dollar rise?"},"content":{"rendered":"\n\n\n
\n

Gold<\/span> 1853,665
\n(+0,18%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span> 1,1296
\n(-0,22%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span> 36057,50
\n(-0,08%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span> 78,965
\n(-1,97%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span> 16234,50
\n(+0%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

The US dollar index has risen by almost a figure since the start of the week. First support came from expectations and then from actual strong retail sales data. Is this catalyst enough for a further rise in the US currency and what are the targets for a stronger DXY?<\/p>\n


\nDXY<\/strong><\/p>\n

\"DXY\"<\/p>\n

Tuesday’s report showed that US retail sales rose by 1.7% in October against an expected increase of 1.4%. September’s increase was revised up from 0.7% to 0.8%.
\nThere were two reasons for this development. Firstly, Americans probably started to do their holiday shopping early, fearing that by the end of the year, due to supply chain disruptions, the shop shelves would empty. Secondly, inflation and attempts to avoid price increases may have had an impact.
\nThe development of retail sales already indicates that the US economy is growing in the fourth quarter, although GDP data will be released late into the new year. In addition to the strong labour market report there is a picture of favourable conditions for an earlier interest rate increase by the Fed.
\nIf the central bank had previously feared that a tightening of monetary policy would damage the fragile economic recovery, the data from October reduces the threat. Although the timing of the rate hike is not yet in question, the wait-and-see factor is working, which is causing the dollar to rise against a basket of currencies.
\nAn additional driver supporting the dollar index could be the weakness of the single European currency. The ECB does not intend to take action to combat inflation in the near future. And a prolonged ultra-soft monetary policy will put pressure on the euro.
\nFrom the technical point of view there is also a favorable situation for the USD index. The price broke through the mirror resistance at 94.5 last week, and now it reached the next target at 96.0. A break above this target would open the way for the Dollar Index to 98.0.<\/p>\n

08.00 UK consumer price index for October
\n11.00 Eurozone consumer price index for October<\/p>\n

\n

Important Notes on This Publication: <\/small><\/p>\n

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold 1853,665 (+0,18%) EURUSD 1,1296 (-0,22%) DJIA 36057,50 (-0,08%) OIL.WTI 78,965 (-1,97%) DAX 16234,50 (+0%) The US dollar index has risen by almost a figure since the start of the…<\/p>\n","protected":false},"author":37,"featured_media":17595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-18288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nHow long will the US dollar rise? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"The US dollar index has risen by almost a figure since the start of the week. 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