DOLLAR INDEX
U.S. Dollar Index is trading below the resistance zone of 98.75, with prices likely to decline and retest the support level at 96.25. This scenario would be invalidated if the aforementioned resistance zone is broken to the upside during today’s trading.
|
Support |
96.25 | 95.50 | – |
| Resistance | 98.75 | 100 |
– |
In today’s trading, the U.S. Dollar Index fell to its lowest level in a week, pressured by the government shutdown in the United States after Congress failed to pass a temporary budget, which raised concerns about a potential delay in the release of key economic data such as the jobs report. Weakness in the Job Openings and Labor Turnover Survey (JOLTS) also added to the selling pressure on the dollar. In contrast, safe-haven assets such as gold benefited from this weakness, reaching new record highs, reflecting investors’ preference to move away from risks tied to the U.S. political and economic landscape.
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