💵 DOLLAR_INDX, H4 💵 1 April 2024
The Dollar Index continued its upward trajectory against a basket of major currencies during this holiday trading session, bolstered by hawkish comments from Federal Reserve members and robust inflation data. Fed Governor Christopher Waller's assertion that recent disappointing inflation figures support the case for maintaining current interest rates further reinforced the dollar's strength. Despite the Personal Consumption Expenditures (PCE) Price Index ticking slightly higher to 2.5% annually in February, in line with market expectations, concerns about inflation lingered.
The Dollar Index is trading higher while currently testing the resistance level. Suggesting the index might extend its gains after breakout.
Resistance level: 104.60, 104.95📉
Support level:104.00, 103.65📈
The Dollar Index continued its upward trajectory against a basket of major currencies during this holiday trading session, bolstered by hawkish comments from Federal Reserve members and robust inflation data. Fed Governor Christopher Waller's assertion that recent disappointing inflation figures support the case for maintaining current interest rates further reinforced the dollar's strength. Despite the Personal Consumption Expenditures (PCE) Price Index ticking slightly higher to 2.5% annually in February, in line with market expectations, concerns about inflation lingered.
The Dollar Index is trading higher while currently testing the resistance level. Suggesting the index might extend its gains after breakout.
Resistance level: 104.60, 104.95📉
Support level:104.00, 103.65📈