Dollar Index broke consolidation resistance

The dollar index broke consolidation resistance and close higher.
Resistance at 106.7, 109.7
Support at TLU2, TLU1, 103.6, 102.3, 100.3, 99.8

COT for Dollar Index

The cyber-related incident at ION prevented timely and accurate data submission to the CFTC. CFTC started clearing backlogged reports and expects to complete them by mid-Mar.

COT reports will resume when the data is up to date.

Weekly chart with 50 SMA

US Markets 25 Feb 23

The US market closed broke hlf (high low formation) on the weekly chart and lower. Dow, Nasdaq and Russell closed around the consolidated support range. 

BDI closed higher from 538 (17 Feb) to 883 (24 Feb)

Harpex closed lower from 1,065 (17 Feb) to 1,059 (24 Feb)

CDFI closed higher from 862.26 (17 Feb) to 935.05 (24 Feb)

CCFI closed lower from 1,094.05 (17 Feb) to 1,077.75 (24 Feb)

The Dollar Index broke consolidation resistance.

Watch out for

• Manufacturing PMI by multiple countries
• ECB Monetary Policy Statement

The cyber-related incident at ION prevented timely and accurate data submission to the CFTC. CFTC started clearing backlogged reports and expects to complete them by mid-Mar.

COT reports will resume when the data is up to date.

Dow

Daily Neutral, Weekly UT
Potential resistance around 33,365, 35,495, 37,625, 39,754

Potential support around 31,236, 29,106, 26,976, 24,847

S&P
Daily UT, Weekly DT

Potential resistance around 4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219, 2,983

Nasdaq
Daily UT, Weekly DT

Potential resistance around 12,040, 12,762, 13,485, 14,207

Potential support around 11,318, 10,595, 9,873, 9,150

Russell
Daily UT, Weekly DT
Potential resistance around 1,910, 2,040, 2,170, 2,300

Potential support around 1,779, 1,649, 1,519, 1,389

Key event to watch out for (SG Time, GMT+8)

27 Feb, Mon

• 2130 US Durable Goods Orders MoM (Jan)
• 2300 US Pending Home Sales (MoM) (Jan)

28 Feb, Tue

• 0830 Australia Retail Sales (MoM) (Jan)
• 2130 Canada GDP (MoM) (Dec)
• 2130 US Goods Trade Balance (Jan) 
• 2300 US CB Consumer Confidence (Feb)

01 Mar, Wed

• 0830 Australia GDP (QoQ) (Q4)
• 0930 China Manufacturing PMI (Feb)
• 0945 China Caixin Manufacturing PMI (Feb)
• 1655 German Manufacturing PMI (Feb)
• 1655 German Unemployment Change
• 1700 Europe Manufacturing PMI (Feb)
• 1730 UK Manufacturing PMI (Feb)
• 2100 German CPI (YoY) (Feb)
• 2300 US ISM Manufacturing PMI (Feb)
• 2330 US Crude Oil Inventories

02 Mar, Thu

• 1800 Europe CPI (YoY) (Feb)
• 2030 Europe ECB Monetary Policy Statement
• 2130 US Initial Jobless Claims

03 Mar, Fri

• 0945 China Caixin Services PMI (Feb)
• 1630 Europe ECB Guindos Speech 
• 1700 Eruope Services PMI (Feb)
• 1730 UK Composite PMI (Feb)
• 1730 UK Services PMI (Feb)
• 2300 US ISM Non-Manufacturing PMI (Feb)

Dollar Index closed higher

The dollar index continues to close higher while consolidating.
Resistance at TLU1, TLU2, 106.7, 109.7
Support at 103.6, 102.3, 100.3, 99.8, 98.7, 97.3

COT for Dollar Index

There will be no update on COT this week due to an ongoing issue with a third-party service provider reporting to CFTC.

Weekly chart with 50 SMA

US Markets 18 Feb 23

The US market closed mixed while consolidating. Dow and S&P closed lower; Nasdaq and Russell closed higher. 

BDI closed lower from 602 (10 Feb) to 538 (17 Feb)

Harpex closed lower from 1,091 (10 Feb) to 1,065 (17 Feb)

CDFI closed lower from 869.94 (10 Feb) to 862.26 (17 Feb)

CCFI closed lower from 1,133.1 (10 Feb) to 1,094.05 (17 Feb)

The dollar index closed higher.

Watch out for

• Interest Rate Decision by China, New Zealand
• CPI and Manufacturing PMI from multiple countries
• US FOMC Meeting Minutes

There will be no update on COT this week due to an ongoing issue with a third-party service provider reporting to CFTC.

Dow

Daily Neutral, Weekly Neutral
Potential resistance around 35,495, 37,625, 39,754

Potential support around 33,365, 31,236, 29,106, 26,976, 24,847

S&P
Daily UT, Weekly DT

Potential resistance around 4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219, 2,983

Nasdaq
Daily UT, Weekly DT

Potential resistance around 12,762, 13,485, 14,207

Potential support around 12,040, 11,318, 10,595, 9,873, 9,150

Russell
Daily UT, Weekly DT
Potential resistance around 2,040, 2,170, 2,300

Potential support around 1,910, 1,779, 1,649, 1,519, 1,389

Key event to watch out for (SG Time, GMT+8)

20 Feb, Mon

• Canada and US holiday
• 0915 China PBoC Loan Prime Rate

21 Feb, Tue

• 0830 Australia RBA Meeting Minutes
• 1630 German Manufacturing PMI (Feb)  
• 1700 Europe Manufacturing PMI (Feb) 
• 1730 UK Composite PMI 
• 1730 UK Manufacturing PMI  
• 1730 UK Services PMI 
• 1800 German ZEW Economic Sentiment (Feb)
• 2130 Canada Core CPI (MoM) (Jan)
• 2130 Canada Core Retail Sales (MoM) (Dec)
• 2130 Canada Inflation Rate YoY (Jan)
• 2245 US Manufacturing PMI (Feb) 
• 2300 US Existing Home Sales (Jan)

22 Feb, Wed

• 0900 New Zealand RBNZ Interest Rate Decision
• 1000 New Zealand RBNZ Press Conference
• 1500 German CPI (Jan)
• 1700 German Ifo Business Climate Index (Feb)

23 Feb, Thu

• Japan Holiday
• 0300 US FOMC Meeting Minutes
• 1800 Europe CPI (YoY) (Jan)
• 2130 US GDP (QoQ) (Q4)
• 2130 US Initial Jobless Claims

24 Feb, Fri

• 0000 US Crude Oil Inventories
• 0730 Japan Inflation Rate YoY (Jan)
• 1500 German GDP (QoQ) (Q4)
• 2130 US Core PCE Price Index (MoM) (Jan)
• 2300 US New Home Sales (Jan)
• 2300 US Michigan Consumer Sentiment (Feb)

Dollar Index closed higher

The dollar index closed higher.
Resistance at 103.6, TLU1, TLU2, 106.7, 109.7
Support at 102.3, 100.3, 99.8, 98.7, 97.3

COT for Dollar Index

There will be no update on COT this week due to an ongoing issue with a third-party service provider reporting to CFTC.

Weekly chart with 50 SMA

US Markets 11 Feb 23

The US market closed lower with an inside day on the weekly chart.

BDI closed lower from 621 (03 Feb) to 602 (10 Feb)

Harpex closed lower from 1,103 (03 Feb) to 1,091 (10 Feb)

CDFI closed lower from 885.07 (03 Feb) to 869.94 (10 Feb)

CCFI closed higher from 1,110 (03 Feb) to 1,133.1 (10 Feb)

The dollar index closed higher.

Watch out for

• CPI and retail sales data by multiple countries

There will be no update on COT this week due to an ongoing issue with a third-party service provider reporting to CFTC.

Dow

Daily DT, Weekly Neutral
Potential resistance around 35,495, 37,625, 39,754

Potential support around 33,365, 31,236, 29,106, 26,976, 24,847

S&P
Daily UT, Weekly DT

Potential resistance around 4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219, 2,983

Nasdaq
Daily UT, Weekly DT

Potential resistance around 12,762, 13,485, 14,207

Potential support around 12,040, 11,318, 10,595, 9,873, 9,150

Russell
Daily UT, Weekly DT
Potential resistance around 2,040, 2,170, 2,300

Potential support around 1,910, 1,779, 1,649, 1,519, 1,389

Key event to watch out for (SG Time, GMT+8)

13 Feb, Mon

• No important data

14 Feb, Tue

• 0750 Japan GDP (QoQ) (Q4)
• 1500 UK Average Earnings Index +Bonus (Dec)
• 1500 UK Claimant Count Change (Jan)
• 2130 US Core CPI (MoM) (Jan)
• 2130 US CPI (MoM) (Jan)

15 Feb, Wed

• 0815 Australia RBA Gov Lowe Speech 
• 1500 UK CPI (YoY) (Jan)
• 2130 US Core Retail Sales (MoM) (Jan)
• 2130 US Retail Sales (MoM) (Jan)
• 2200 Europe ECB President Lagarde Speaks  
• 2330 US Crude Oil Inventories

16 Feb, Thu

• 0830 Australia Employment Change (Jan)
• 2130 US Building Permits (Jan)  
• 2130 US Philadelphia Fed Manufacturing Index (Feb)
• 2130 US US PPI (MoM) (Jan)
• 2130 US Initial Jobless Claims

17 Feb, Fri

• 0345 Europe ECB Guindos Speech 
• 0630 Australia RBA Gov Lowe Speech 
• 1500 UK Retail Sales (MoM) (Jan)

Dollar Index closed higher

The dollar index broke pwl (previous week low) and recovered to close higher with an inside day on the weekly chart.
Resistance at TLU1, 103.6, TLU2, 106.7, 109.7
Support at 102.3, 100.3, 99.8, 98.7, 97.3

COT for Dollar Index

There will be no update on COT this week due to an ongoing issue with a third-party service provider reporting to CFTC.

Weekly chart with 50 SMA

US Markets 04 Feb 23

The US market closed higher, except Dow closed lower in consolidation.

BDI closed lower from 676 (27 Jan) to 621 (03 Feb)

Harpex closed higher from 1,100 (27 Jan) to 1,103 (03 Feb)

CDFI closed lower from 905.49 (20 Jan) to 885.07 (03 Feb)

CCFI closed lower from 1,160.59 (20 Jan) to 1,110 (03 Feb)

The dollar index closed higher with an outside day on the weekly chart.

Watch out for

• Interest rate decision by Australia
• Speech by Fed Chair Powell
• China Inflation Rate 

There will be no update on COT this week due to an ongoing issue with a third-party service provider reporting to CFTC.

Dow

Daily Neutral, Weekly DT
Potential resistance around 35,495, 37,625, 39,754

Potential support around 33,365, 31,236, 29,106, 26,976, 24,847

S&P
Daily UT, Weekly DT

Potential resistance around 4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219, 2,983

Nasdaq
Daily UT, Weekly DT

Potential resistance around 12,762, 13,485, 14,207

Potential support around 12,040, 11,318, 10,595, 9,873, 9,150

Russell
Daily UT, Weekly DT
Potential resistance around 2,040, 2,170, 2,300

Potential support around 1,910, 1,779, 1,649, 1,519, 1,389

Key event to watch out for (SG Time, GMT+8)

06 Feb, Mon

• New Zealand Holiday
• 0830 Australia Retail Sales MoM (Dec)
• 1800 Europe Retail Sales MoM (Dec)
• 2300 Canada Ivey PMI (Jan)

07 Feb, Tue

• 1130 Australia RBA Interest Rate Decision (Feb)
• 1130 Australia RBA Rate Statement  

08 Feb, Wed

• 0140 US Fed Chair Powell Speaks
• 2330 US Crude Oil Inventories

09 Feb, Thu

• 2100 German CPI (YoY) (Jan)
• 2130 US Initial Jobless Claims

10 Feb, Fri

• 0930 China Inflation Rate YoY (Jan)
• 1500 UK GDP (YoY) (Q4)
• 2130 Canada Employment Change (Jan)
• 2300 US Michigan Consumer Sentiment (Feb)