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US stocks gain while the US Dollar Index falls

US stock markets are trading higher after the Federal Reserve (Fed) minutes indicated that the policymakers favor a slow rise in the interest rates, contrary to market expectations. Meanwhile, the US Dollar (USD) weakened as the policy makers expressed concerns regarding the strength in the USD.

The DJIA is trading 1.14% higher at 1691.50 while the S&P futures are trading 1.19% higher at 1951.95. Rising stocks have been accompanied by a fall in the US Dollar index, which now trades 0.44% lower at 85.38 levels.

DJIA technical levels

DJIA may test 16,986 levels if the Index manages to sustain above the 50-day moving average level of 16,920. The index has an immediate support of 16,850.

EUR/USD stationed on the bid

EUR/USD is trading at 1.2734, up 0.52% on the day, having posted a daily high at 1.2750 and low at 1.2623.
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