OctaFX | OctaFX Forex Broker
Open trading account

Forex: US Dollar Index around 81.60/65 ahead of FOMC

FXstreet.com (Barcelona) - The greenback, tracked by the US Dollar Index, is trading in the defensive ground on Wednesday, extending the decline for the sixth consecutive session from tops in the area of 83.35/40 on April 24th to the current levels around 81.60, ahead of the FOMC meeting due shortly.

In the data space, both the ISM Manufacturing and the ADP report disappointed investors, falling to 50.7 and 119K vs. the median at 150K and 50.9, respectively.

At the moment the index is down 0.28% at 81.57 and according to tradincentral.com the next support levels line up at 81.45, 81.20 and 81.05 while resistances align at 82.00, 82.20 and 82.35.

Poor jobs data is dragging US markets lower

Markets in the US are trading on the back foot on Wednesday, dragged by below-expectations revenues from companies and disappointing ADP report figures, ahead of the FOMC meeting...
Read more Previous

The Fed leaves unchanged its interest rate at 0.25%

Read more Next
Start livechat