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US Dollar slumps near 96.00

FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, has been hammered and sent towards session lows in the boundaries of 96.00 the figure in response to disappointing US data.

US Dollar weaker on US data

The index has reverted the auspicious start on Thursday following the lacklustre results from the US docket today, where Initial Claims and the key ISM Manufacturing have both missed market expectations, intensifying the selling mood around USD.

On the bright side, the less relevant manufacturing PMI tracked by Markit ticked higher to 53.1 for the month of September, surpassing both the median and August’s reading. Construction Spending also followed suit, up 0.7% from July to August (0.5% exp.).

US Dollar levels to consider

At the moment the index is retreating 0.35% at 96.01 and a break below 94.06 (low Sep.18) would aim for 93.72 (low Aug.26) and finally 93.25 (low Aug.25). ON the flip side, the immediate up barrier lines up at 96.49 (high Oct.1) followed by 96.70 (high Sep.25) and then 97.07 (high Aug.19).

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