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    ForexJournal » Economic » Trump Trade 2.0 continued amid caution – DBS
    Economic

    Trump Trade 2.0 continued amid caution – DBS

    Author AvatarBy Patrick Butler November 2, 2024 No Comments 5 Mins Read
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    Monday continued the momentum of ‘Trump Trade 2.0’ though several markets are approaching critical levels, DBS’s Senior FX Strategist Philip Wee notes.

    DXY nearing a full retracement

    “The Dollar Index (DXY) appreciated from 103.4 to 105.5 since the November 5 US election, nearing a full retracement of its 3Q decline from 106.1. EUR/USD dropped below 1.07, closing 0.6% lower at 1.0650 overnight, but is near the year’s low of 1.06 reached in mid-April.”

    “USD/CAD struggled to break above 1.3950 this month, with similar resistance for USD/JPY at 154. The S&P 500 Index rallied 5% after the election, hitting an all-time

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    Patrick Butler

    He is a distinguished financial analyst with a wealth of experience in the Forex and cryptocurrency markets. With a career spanning over 15 years, Patrick has honed a keen understanding of market dynamics, using both technical analysis and macroeconomic insights to forecast trends and identify opportunities. His work is characterized by a meticulous attention to detail and an ability to simplify complex concepts, making him a respected authority for both institutional investors and individual traders. Patrick’s analytical depth and pragmatic approach have earned him recognition as a trusted expert in the ever-evolving world of finance.

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