US Dollar Index Struggles to Break 105.00 Barrier Amid US Data and Powell Speech

Wednesday, 3 April 2024, 06:24

The USD Index continues to face resistance around the 105.00 level while trading near 104.75. Focus remains on upcoming US economic data releases and Federal Reserve Chair Powell's speech, influencing market sentiment. Traders are closely monitoring these events for potential shifts in the US Dollar's strength and overall market direction.
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US Dollar Index Struggles to Break 105.00 Barrier Amid US Data and Powell Speech

USD Index Struggles Near 105.00

The US Dollar Index (DXY) remains in the negative zone for the second consecutive day, hovering close to 104.75 during the early European session on Wednesday.

Key Highlights:

  • Resistance at 105.00: The USD Index faces challenges in breaking above the 105.00 mark.
  • Market Focus: Attention is on upcoming US economic data releases and Fed Chair Powell's speech.
  • Impact on Trading: Traders are awaiting signals from these events to gauge the USD's strength and market direction.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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