OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: US Dollar Index grinding lower

FXstreet.com (Barcelona) - Poor data from the US labour market and the manufacturing sector have dented the USD rally, sparking a correction lower to the current area of 83.80/85 after Wednesday’s yearly highs above 84.00.

“The broader sense that the US recovery is still generally taking shape continues to be priced into the market. That view could be shaken in the coming days, but it would likely take a more notable data disappointments or strong comments from a Fed speaker. Without that however, the prevailing trend is still toward more USD strength”, assessed G.Moore and S.Osborne, FX Strategists at TD Securities.

As of writing, the index is losing 0.30% at 83.71 and according to tradingcentral.com, the next support levels line up at 83.50, 83.30 and 83.10 while resistance barriers are located at 84.00, 84.20 and 84.50.

US markets reverted initial losses, dollar tumbles

Shares in the US market are now trading in the positive territory on Thursday, shrugging off the poor batch of economic data in the US economy and helped by the outperformance of Cisco Systems Inc...
Read more Previous

GBP/JPY rejects the 156.50

After bouncing at the 155.80 area to trade above the 156.00 and to test the intra-day high at 156.50, the GBP/JPY has been rejected by this level with the pair falling back to the 156.00 zone.
Read more Next
Start livechat