Post #16037

DXY Hits Big Resistance Again. The Stacked Economic Calendar Is In Focus DXY is holding near 10-month highs, with strong upside momentum and tracking toward its largest monthly gain in months. Trend remains firmly bullish unless something shifts materially. The dollar is catching a bid from safe-haven flows and relative strength. Ongoing Middle East tensions, mixed signals on negotiations, and a still-disrupted Strait of Hormuz are keeping uncertainty elevated. Higher oil prices are also a key driver—they hurt energy importers like Japan and Europe, while the U.S. is more insulated. That divergence is supporting USD. On top of that, rate differentials and growth expectations continue to favor the dollar, with positioning now leaning heavily bullish. Unless there’s clear de-escalation or a shift in Fed expectations, the dollar stays supported. This week, all eyes are on U.S. labor data for the next move. - Alan