The American received support on data from the US

• The index of business activity in the non-manufacturing sector (PMI) of the USA from the ISM is 58.6, the forecast is 57.9.
• The number of open vacancies in the labor market (JOLTS) in the US is 6,698M, the forecast is 6.490M.

The US dollar received significant support for the publication of optimistic data on business activity in the non-manufacturing sector and open vacancies in the US labor market. It is especially worth noting the number of open vacancies in the labor market that have remained at historical highs for the past few years and the April data have not become an exception.

Fig. 1. The number of open vacancies in the labor market

As a result, the US dollar index managed to approach the 94.30 mark, which confirms expectations about the correction of the American and the slowdown of the downward trend in the US dollar.

Fig. 2. Graph of the US dollar index. The current price is 94.30 (the yield of 10-year government bonds is a blue line)

Also, read: “Gann’s Grid – Forex Tool for Successful Trading”

Andre Green