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Commodity outlook by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls:
Commodity Outlook: US Dollar index (DXY) has touched 93 for the first time in 2018. DXY is overbought but the uptrend still looks strong and difficult to argue that it is over. To add momentum to the currency, market are currently pricing in 50% probability of 4 rate hike this year. US Treasury yield is also trading north of 3 percent which should decrease of inflation fear. US Producer Price Index also came lower than expected which should give investors some relief from rising inflation. At present DXY is
Commodity Outlook: US Dollar index (DXY) has touched 93 for the first time in 2018. DXY is overbought but the uptrend still looks strong and difficult to argue that it is over. To add momentum to the currency, market are currently pricing in 50% probability of 4 rate hike this year. US Treasury yield is also trading north of 3 percent which should decrease of inflation fear. US Producer Price Index also came lower than expected which should give investors some relief from rising inflation. At present DXY is
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