Forex Newsletter :USD Gains Momentum on Economic Data and Inflation Outlook

Dollar Index

Sell Below 104.80

Downside Targets Looks 104.50-104.00

Stop loss Above 105.43


Buy Above $2348
Upside Target Looks  $2360– $2380
Stop-loss Below $2334


Buy Above $28.20

Upside Target Looks $28.60–$29.00
Stop-loss Below $27.90


Sell Below $4.6940

Downside Targets Look $4.6740-$4.6500

Stop Loss Above $4.7245


Crude Oil is Trading Around $78.63

Sell Around $80.00
Downside Target $79.00- $78.00

Stop-loss Above $81.05


Sell Below 18270

Downside Target Looks 18200 –18000

Stop-loss Above -18320

S&P 500 E-Mini 

Buy Above 5230

Stoploss Below 5200
Upside Target Looks 5260-5300


Buy Above– 0.9050 Stop Loss Below – 0.9010 Target-0.9080

After a period of subdued performance, the U.S. dollar (DXY index) showed resilience this past week, climbing approximately 0.23% to reach 105.31. This resurgence was supported by a slight increase in U.S. Treasury yields and a cautious sentiment among traders ahead of the release of April’s U.S. consumer price index (CPI) figures.

The greenback’s recent rebound could strengthen further if the trend of consistently higher-than-expected inflation data continues in the upcoming CPI report. Forecasts suggest a 0.3% rise in both headline and core CPI figures for the previous month, translating to annual rates of 3.4% and 3.7% respectively, signaling a positive trajectory in inflation.

This positive momentum in the U.S. dollar is underpinned by optimistic economic indicators and expectations surrounding inflation, setting the stage for potential further gains in the currency.

Happy Trading!

Commodity Samachar
Learn and Trade with Ease

Also Read: Navigating the Waves of the EURAUD Exchange Rate: A Trader’s Guide

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