Highlights and themes
- The spike lower with the US dollar after the CPI has recovered more than half the decline.
- The low on the DXY US Dollar from the CPI print index is the line in the sand.
- Yen has a potentially bullish pattern developing.
- Bitcoin has drifted higher with sentiment remaining under pressure
- Ethereum has looked better. However, there are a couple of signals to watch
Currency Sentiment Overview
Currency sentiment highlights
US Dollar Indexes
DXY US Dollar Index daily dropped hard after the CPI data and has recovered most of the drop. A move over 106 would put the US Dollar in a stronger position possibly extending the upside DeMark Sequential Countdown
DXY US Dollar Index weekly
US Dollar bullish sentiment has been under pressure and did break below the one-year low end of the range last week.
US Dollar Commitment of Traders
Bitcoin and ethereum
Bitcoin Daily has been drifting higher lacking momentum. Regardless it’s mildly constructive
Bitcoin Bullish Sentiment has remained under pressure
Ethereum Daily has looked better than Bitcoin. Let’s see what happens with the Sell Setup 9 and Aggressive Sequential 13
Major USD Crosses
EURUSD Euro / US Dollar
Euro bullish sentiment has been trying to emerge
Euro Commitment of Traders
GBPUSD British Pound Sterling / US Dollar
British Pound Sterling bullish sentiment needs to make a new higher high
British Pound Sterling Commitment of Traders
AUDUSD Australian Dollar / US Dollar
Australian Dollar bullish sentiment improving
Australian Dollar Commitment of Traders
USDCAD US Dollar / Canadian Dollar
Canadian Dollar bullish sentiment lacking momentum
Canadian Dollar Commitment of Traders
USDCHF US Dollar / Swiss Franc continuing trend
Swiss Franc bullish sentiment remains strong
Swiss Franc Commitment of Traders
USDJPY Japanese Yen / US Dollar shows the Yen getting stronger and people will be watching 130 closely
Japanese Yen Bullish Sentiment stalled
Japanese Yen Commitment of Traders
RISK On Risk Off
This cross is often used as a risk-on / risk-off indicator
EURAUD Euro / Australian Dollar
Three major Yen crosses
EURJPY Euro / Japanese Yen
GBPJPY British Pound Sterling / Japanese Yen
AUDJPY Australian Dollar / Japanese Yen
US Dollar vs Emerging Markets
USDTRY US Dollar / Turkish Lira
USDBRL US Dollar / Brazilian Real
Brazilian Real Commitment of Traders
USDMXN US Dollar / Mexican Peso
Mexican Peso bullish sentiment is extreme
Mexican Peso Commitment of Traders
USDZAR US Dollar / South African Rand
USDCNH US Dollar / Chinese Offshore Renminbi (Yuan)
DeMark Sequential Basics from Bloomberg
More detailed Commitment of Traders explanation
