Dollar is under pressure of correction

The US currency has been trading lower since the opening of the day, which is caused by the growth of optimism in the stock exchanges and the technical correction of positions in the dollar before tomorrow’s employment report in the US. An additional factor in the reduction of long positions for the US dollar was very weak data on nonfarm workers in the US from ADP and labor costs.

ADP nonfarm empliyment changes chart

 

The number of nonfarm workers from ADP unexpectedly fell to the low of the current year, thus significantly lowering optimism about the future employment report in the US (NFP).

As a result, the US dollar index tests the support level at 95.00. And on the positive opening of trading on Wall Street can be fixed below this psychology.

The US dollar index chart. The current price is 95.60 (10-year government bonds yield is a blue line)

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Andre Green

Earn with the help of the trade service on the news Erste News!

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