DXY: Quietly coming off – OCBC

US Dollar (USD) fell further overnight amid continued decline in UST yields. DXY was last at 97.42 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Bullish momentum on daily chart shows signs of fading

"There is neither tier-1 data nor Fedspeaks for markets to digest. Day ahead brings existing home sales data. Bullish momentum on daily chart shows signs of fading while RSI fell. Risks remain skewed to the downside. Support at 97 levels. Resistance at 97.60 (21 DMA), 98.50 (50 DMA), 99.60 levels (23.6% fibo retracement of 2025 high to low)."

Jul 23, 2025

Nikkei breakout holds – Société Générale

The Nikkei 225 has confirmed a bullish breakout above its multi-month range, powered by an inverse head and shoulders pattern. Momentum remains strong, with targets set near last year’s highs and beyond, Société Générale's FX analysts note.

Oil surplus and time spreads – ING

Oil prices edged lower yesterday with ICE Brent settling 0.9% lower on the day amid concerns over tariffs, with the 1 August deadline fast approaching.