💵 DOLLAR_INDX, H4 💵 11 March 2024
The US Dollar grapples with losses as key employment indicators present a mixed picture. The disappointing unemployment rate and hourly earnings figures contrast with a robust non-farm payroll report, leaving the greenback in a delicate position. Bloomberg reports reveal that Federal Reserve Chair Jerome Powell and colleagues are moving closer to revising their inflation strategy. Powell emphasises the need for "just a bit more evidence" before considering a shift in the central bank's approach. His recent congressional testimony suggests a potential willingness to cut interest rates in the short term, pending further confirmation of inflation trends toward the 2% target.
The Dollar Index is trading lower following the prior breakout below the previous support level. Suggesting the index might enter oversold territory.
Resistance level: 103.70, 104.50📉
Support level:102.10, 101.35📈
The US Dollar grapples with losses as key employment indicators present a mixed picture. The disappointing unemployment rate and hourly earnings figures contrast with a robust non-farm payroll report, leaving the greenback in a delicate position. Bloomberg reports reveal that Federal Reserve Chair Jerome Powell and colleagues are moving closer to revising their inflation strategy. Powell emphasises the need for "just a bit more evidence" before considering a shift in the central bank's approach. His recent congressional testimony suggests a potential willingness to cut interest rates in the short term, pending further confirmation of inflation trends toward the 2% target.
The Dollar Index is trading lower following the prior breakout below the previous support level. Suggesting the index might enter oversold territory.
Resistance level: 103.70, 104.50📉
Support level:102.10, 101.35📈
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.