Connect with us

Hi, what are you looking for?

Earnings PolicyEarnings Policy

Economy

Dollar index in anticipation of NFP and unemployment report

Dollar index in anticipation of NFP and unemployment report

During this morning’s Asian trading session, the dollar index continued to retreat to a new weekly low of 100.84

Dollar index chart analysis

During this morning’s Asian trading session, the dollar index continued to retreat to a new weekly low of 100.84. We are currently seeing a slight recovery to the 100.90 level. We need a further continuation above 101.00 to get back above the daily open price. Then, we need to hold on there to form a new position from which we would continue to the bullish side. At 101.20, we will meet the EMA 50 moving average and need its support for further recovery.

After that, the dollar index will have good momentum to continue towards 101.40 and the EMA 200 moving average to gain its support as well. Potential higher targets are 101.60 and 101.80 levels. The weekly open price is at 101.73.

 

Today, we are also under bearish pressure and expect a further pullback

For a bearish option, the dollar index would have to continue its retreat below the 100.80 level. With that step, we move to a new weekly low and confirm the continuation to the bearish side. Potential lower targets are 100.80 and 100.60 levels. Last week’s low is also important at 100.50.

Today, in the US session, very important economic news awaits us. The most important are Nonfarm Payrolls, followed by the Unemployment Rate and Average Hourly Earnings. These data will be published half an hour after the opening of the US session. The forecast on the NFP report is more optimistic than the August data. This news will have a big impact on the dollar index. From the data on the Unemployment Rate, we expect to see a decrease from 4.3% to 4.2%.

 

The post Dollar index in anticipation of NFP and unemployment report appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Economy

    Everything You Need to Know about Tax Saving Deposit Navigating the world of investments can be daunting, especially when looking for options that offer...

    Latest News

    FBI Director Christopher A. Wray, who has been increasingly under attack from congressional Republicans, pushed back against his critics in a new interview, saying...

    Economy

    USDCHF and USDJPY: USDJPY is testing support at 150.00 The USDCHF pair jumped to 0.91126 levels on Wednesday, forming a new three-week high. The...

    Latest News

    One ripple effect of the Israel-Gaza war is the warp-speed unraveling of relations between President Biden and some of his most loyal voters: Muslims...

    Disclaimer: earningspolicy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 earningspolicy.com