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Equities in the US markets are trading back to the positive territory on Thursday, recovering ground after the poor weekly report on the labour market has undermined sentiment ahead of tomorrow’s Pay

FXstreet.com (Barcelona) - The US Dollar Index, which gauges the greenback against its major competitors, is trading back to the red territory on Thursday, falling from weekly highs above 83.60 to the current lows around 82.75/80 as risk aversion is rapidly shrinking.

The selling pressure in the USD accelerated after ECB’s Draghi left intact the refi rate, dragging the euro to fresh 2013 lows around 1.2740 just to quickly climb since then to weekly highs in the boundaries of 1.2950.

In the data front, US Initial Claims rose to 4-month highs at 385K, following the soft results of Wednesday’s ADP report ahead of tomorrow’s NFP.

At the moment, the index is losing 0.14% at 82.75 and according to tradingcentral.com, the next support levels align at 82.65, 82.50 and 82.35 while resistance levels are located at 83.40, 83.50 and 83.70.

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