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Seasonal Insights: DXY 04.01.21

Seasonal Insights: DXY 04.01.21

Seasonal Insights: DXY 04.01.21

in Daily Forecasts

Dollar buyers?

At the start of the year US companies move USD’s back into US parent companies. This tends to result in USD strength in the first few days of January.

Over the last 25 years, between January 01 January 09 the Dollar Index has gained in 19 years. The largest loss was -2.08% in 2004. The largest gain was +2.45% in 2005. Will there be gains in the dollar index again this year?

The medium term outlook for the USD remains bearish, but a short term correction would make sense as the dollar index sits in a key support level.

Trade Risks: The main risk to this trade is if the strong USD selling from the end of 2020 carries on.


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Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

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