The all-important US employment report for March will see the light at 12:30 GMT on Friday.
The US dollar index reached a fresh four-month high of 98.56 as the price extended its bull run.
The US dollar index had a successful daily close above the 50-simple moving average (SMA) suggesting remarkable gains.
As the US dollar heads for fresh two-year highs, next week’s nonfarm payrolls report could be key in deciding whether the dollar’s persistent strength will hold out for much longer.
Following the close under the 200-day moving average (MA), the US dollar index future price regained considerable ground.
The US dollar index is paring some losses from yesterday above the 23.6% Fibonacci retracement level of the up leg from 88.10 to 97.65.
Following the Federal Reserve’s dovish pivot in January, there is a lot of anticipation for the next FOMC meeting on March 19-20.
The dollar index found strong resistance around the 97.20 level, driving the price lower.
Markets unconvinced by Trump-Xi trade rapprochement A major theme for global markets and the global economy is the uncertainty caused by the frictions between the United States and China. It was therefore an initially positive piece of news that the two countries would restart a new round of negotiations that would last for 90 days, […]
Dollar index consolidates gains within ascending channel. The dollar index has been moving sideways after unlocking 1 ½-year high at 97.50 within the ascending channel. In the short term, consolidation will likely continue as the red Tenka-sen line looks to be steadying again above the blue Kijun-Sen line which is also flat, while the MACD has […]