The US Dollar (USD) witnessed a significant drop on Friday, with the US Dollar Index (DXY) descending below 105.
The DXY sank to 105.15, its lowest level since mid-September. US government bond yields are retreating, also standing at lows since September. Job creation decelerated in October in the US as well as Hourly Earnings, while the Unemployment Rate increased. 10. The Greenback price dynamics were set by weak labor market data from the US and falling US bond yields as weaker-than-expected Nonfarm Payrolls give investors confidence that the Federal Reserve won’t deliver any more hikes.
The Relative Strength Index exhibits a negative slope below the 50 threshold, while the Moving Average Convergence histogram prints increasing red bars. Additionally, the pair is below the 20-day Simple Moving Average but above the 100 and 200-day SMAs, implying that the bulls remain in control on a broader scale but that the sellers are in command of the short-term. Support levels: 105.10, 105.00, 104.70. Resistance levels: 105.50, 105.80, 106.00.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Dollar Forecast: USD/JPY Slips but AUD/USD Breaks Out After Fed, NFP AheadThis article examines USD/JPY and AUD/USD from a fundamental and technical point of view, analyzing the key drivers that could guide the markets and that traders should focus on in the near term.
Read more »
EUR/USD gains traction near 1.0600, eyes on US NFP dataThe EUR/USD pair surges above 1.0580 during the early Asian session on Thursday.
Read more »
EUR/USD Forecast: Euro takes a pause ahead of NFPThe EUR/USD rose on Thursday boosted by a weaker US Dollar, but it could not break a key resistance level and lost strength.
Read more »
USD/JPY churning near 150.50 with US NFP around the cornerThe USD/JPY is taking a bumpy ride around the 150.50 level as Friday's trading window gets underway.
Read more »
EUR/USD holds above 1.0600 ahead of the US NFP dataThe EUR/USD pair rally stalled after reaching 1.0667 but remains above the key support of the 1.
Read more »
EUR/USD Price Forecast: Euro Progresses as Markets Prep for NFPEUR prices soared despite poor euro area PMI data as US jobless claims figures supplemented a weaker ADP employment change read yesterday.
Read more »