The US dollar continues trading under pressure

The US dollar is losing momentum against the basket of currencies, despite the positive data on producer prices in the US.

• The producer price index (PPI) rose 0.4% in October, while analysts expected growth at 0.1%, on annualized basis growth at 2.8%, exceeding the previous value of 2.6%.
• The basic producer price index (PPI) kept in October growth at the level of 0.4%, against the forecast of analysts at 0.2%, on annualized basis growth at 2.4%, exceeding the previous value of 2.2%.

The US dollar index today updated the November low to 93.936, which is a significant level of support on the way to further decline. In the case of further reduction and consolidation below the level of 93,900, the next support level should be considered at 93,660.

Fig. The graph of the US dollar index, the current price of DXY – 94.008.

Alexander Sivtsov