Will the Dollar continue its Downtrend or change its Direction?
The dollar index #DX1! respected its previous downtrend and the News about CPI (Consumer Prices) today helped with this movement to the downside.
Will the Dollar continue its Downtrend or will change its Direction to the Upside?
CPI m/m
Actual: 0.3%
Forecast: 0.4%
Previous: 0.4%
Empire State Manufacturing Index
Actual: -15.6
Forecast: -9.9
Previous: -14.3
"The dollar index, which measures the greenback against a basket of major currencies including the yen and the euro, fell to a one-month low at 104.41, but later pared losses to trade 0.25% lower at 104.77".
References:
-https://www.forexfactory.com/index.php
-https://www.reuters.com/markets/currencies/dollar-droops-ahead-crucial-cpi-test-yen-under-pressure-2024-05-15/
Will the Dollar continue its Downtrend or will change its Direction to the Upside?
CPI m/m
Actual: 0.3%
Forecast: 0.4%
Previous: 0.4%
Empire State Manufacturing Index
Actual: -15.6
Forecast: -9.9
Previous: -14.3
"The dollar index, which measures the greenback against a basket of major currencies including the yen and the euro, fell to a one-month low at 104.41, but later pared losses to trade 0.25% lower at 104.77".
References:
-https://www.forexfactory.com/index.php
-https://www.reuters.com/markets/currencies/dollar-droops-ahead-crucial-cpi-test-yen-under-pressure-2024-05-15/
