USD near 2018 peak as consumer confidence rises to 18 year high

4:21 PM 30 October 2018

Summary:

  • USD index rises close to 2018 peak

  • The greenback is set for a solid month of gains

  • US consumer confidence comes in at highest since 2000

 

It’s looking like another day of solid gains for the US dollar, with the buck rising against most of its peers. After falling to the low 93s back in mid-September a trade weighted index of the US dollar has been in a steady grind higher, with the market now closing in on its 2018 peak set back in August. Should there be a green close today then 4 of the past 5 days will have seen an appreciation in the buck and given the strong fundamental growth and employment figures from the US of late, as well as the fairly marked divergence in monetary policy it’s not hard to justify these gains.

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app

The USD index is looking for another day of gains and is back near its YTD peak of 96.87 after a steady move higher in recent weeks. Source: xStation

 

This afternoon the only data of note for the USD was the Conference Board consumer confidence figure which surprised to the upside in printing its highest reading since 2000. The number of 137.9 was comfortably above the 135.9 expected, but it should be noted that this was only a 18-year high because the prior reading of 138.4 was revised lower to 135.3. Another consideration which should be made is that while this data is for the month of October, the survey was concluded by the 18th and therefore was before a large chunk of the selling seen in the stock market.

The latest strong consumer sentiment reading from the CB extends the run higher seen for much of this decade and is more pleasing given the recent pullback in the Uni Mich equivalent. Source: XTB Macrobond

One of the most interesting USD pairs at present is the USDJPY which has broken above the 38.2% fib today. The market ran into some resistance at the 50% fib of 112.95 but as long as price doesn’t move back below 112.58 then further gains are possible with the 61.8% fib at 113.33. Source: xStation

 

 

Share:
Back
Xtb logo

Join over 935 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol cc 2 March 2024
test_cookie cc 25 January 2024
adobe_unique_id cc 1 March 2025
__hssc cc 8 September 2022
SESSID cc 2 March 2024
__cf_bm cc 8 September 2022
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid cc 9 September 2022
_gat_UA-98728395-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_gcl_au cc 30 May 2024
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
__hstc cc 7 March 2023
__hssrc

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 7 March 2023

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language