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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
economy-ss-8
Inflation Update: Weak demand softens shocks
July 4, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
June 30, 2025 DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
View all Reports
Currencies 2 MIN READ

Dollar backs away from post-data brink but remains at risk

August 11, 2022By Reuters
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Aug 10 (Reuters) – The dollar index weakened on Thursday after PPI and jobless claims data and remained at risk of further losses even though it survived a test of its post-CPI low at 104.63 by the 23.6% Fibo of the 2021-22 uptrend at 104.55.

Rebounding Treasury yields trimmed the dollar’s losses, but it remained below this year’s uptrend line and pivotal 50-day moving average.

Though longer-term Treasury yields have rebounded amid unwinding of previous curve flattening and inversion flows, perhaps skewed by today’s 30-year Treasury auction, the July CPI and PPI reports lend support to the view U.S. inflation may be peaking, which may diminish expectations for dollar-supportive Fed rate hikes.

The dollar’s enormous 22.5% rally off the pandemic lows to its highest in 20-years left it extremely overbought and it hit a thicket of long-term technical resistance before Wednesday’s first close below this year’s uptrend line and 50-day moving average, last at 105.59, and at risk of a broader retracement.

A close below 104.55, the 23.6% Fibo of 2021-22’s advance, would target supports by the 100-DMA that’s rising toward the 38.2% Fibo of this year’s rise at 103.69, close to the post-June Fed hike lows.

(Randolph Donney is a Reuters market analyst. The views expressed are his own.)

This article originally appeared on reuters.com

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