Monday Briefing: From DXY to Latest Russia – Ukraine Conflicts: June 20, 2022

US Dollar Index Overview

• The DXY exhibits range bound movement and consolidates around 104.40 mark.
• The intraday high is 104.73 and low at 104.23 mark.
• A day Chart is up and H1 chart with triple EMA suggests bearish trend for the time being.
• Immediate hurdles are seen at 104.70 to 104.20 mark.
• A sustained close of either side on H1 chart requires for the further directions of the U.S. dollar.

Key Headlines for the FX market:

• French President Emmanuel Macron faced the prospect of having to seek support from parliamentary rivals in order to salvage his economic reform agenda, after voters punished his centrist alliance in a legislative election.
• Leftist Gustavo Petro, a former member of the M-19 guerrilla movement, who has vowed profound social and economic change, won Colombia’s presidency, the first progressive to do so in the country’s history. His election has left investors on edge.
• Authorities in flood-hit Bangladesh and northeastern India scrambled to provide aid to more than nine million people marooned after the heaviest rains in years killed at least 54 people across both South Asian nations.
• China has carried out a land-based missile interception test that “achieved its expected purpose”, the Defense Ministry said, describing it as defensive and not aimed at any country.
• China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow.

Latest updates on Russia – Ukraine Conflicts:

• Ukraine’s President Volodymyr Zelenskiy predicted Russia will escalate its attacks this week as European Union leaders consider whether to back his country’s bid to join the bloc and Russia presses its campaign to win control of east Ukraine.
• Russian-backed separatist forces in Ukraine said they had taken a village beside the main southern road towards the eastern Ukrainian city of Sievierodonetsk, over which Russian and Ukrainian forces have been fighting for weeks.
• Ukraine’s parliament voted through two laws which will place severe restrictions on Russian books and music as Kyiv seeks to break many remaining cultural ties between the two countries.

Source: Reuters

Keep an eye open for the latest news and fundamentals affecting the FX markets.

Take a look and do trade wisely!
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