US Dollar Index

DXYREFERENCE

Rate differentials compress in favor of rest-of-world

Updated 2026-09-03T10:31:27.773Z

Live price

99.63 ▲ +0.16%

Open

99.44

High

99.96

Low

99.09

Prev Close

99.47

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US Dollar Index confluence

NEUTRAL
59/100 NEUTRAL · MEDIUM confidence
0Neutral100

Biases

Macro BEARISH
Technical BEARISH
AI NEUTRAL

Supporting

  • Fed Policy — Fed funds 4.25% · stance 0.6
  • Real Yields — 10Y TIPS 1.52%
  • DXY — DXY 97.45 · down

Conflicting

  • Fed Policy reading 73 resists the bearish case
  • Real Yields reading 70 resists the bearish case
  • DXY reading 68 resists the bearish case

Invalidation

  • DXY reverse against the thesis
  • US Dollar Index reclaims key support/resistance
  • A surprise inflation or labour print flips the regime overlay

Scenarios

REFERENCE
Base case 55%
Consolidation 30%
Invalidation 15%
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Key levels

Resistance

98.40

99.60

Support

96.80

95.90

Invalidation

100.20

Character

Regime

reflation

Volatility

low

Liquidity

high

Sentiment

44/100

Positioning & narrative

44/100

Long-USD crowded and unwinding

USD downside is the natural expression of a global easing cycle.

AI view

Rate differentials compress in favor of rest-of-world.

Events that can move US Dollar Index

DateEventRegionImp.PrevForecast
2 Sept 11:00 ISM Manufacturing PMI — Sep US low 49.4 49.8
4 Sept 13:30 Nonfarm Payrolls — Sep US high 165K 150K
4 Sept 13:30 Unemployment Rate — Sep US medium 4.0% 4.1%
10 Sept 13:30 CPI YoY — Aug US high 2.9% 2.8%
11 Sept 14:00 FOMC Rate Decision (upper bound) US high 4.25% 4.00%
17 Sept 13:30 Retail Sales MoM — Aug US low 0.6% 0.3%
24 Sept 14:00 Final Q2 GDP (QoQ ann.) US high 2.4% 2.4%