Instrument NameEuro FXInstrument Symbol(E6Z22)

Instrument ExchangeCME

The dollar index is a benchmark that measures the U.S. currency against other world reserve currencies. The index is a barometer because the dollar is the leading fiat currency in the global financial system. After rallying to a two-decade high in September 2022, the index turned lower and fell below its technical support level in January 2023, where it remains in early February.

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.86%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.18%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.89%. U.S. stock index futures this morning are moderately lower....

Stocks were higher this week with SP500 futures trading close to 4100 area; still, a strong potential technical resistance where we are aware of a new turndown, especially if USD will recover. One of the reasons for higher stocks last week came after BoC announced a pause with interesting rate hikes, and usually, this BoC was one of the first banks with policy changes.