The US dollar rebounded after the recent weakness due to increased odds of a rate hike at tomorrow's meeting.
Meanwhile, today's US October JOLTS data may offer further clarity on the labor market following the delayed October NFP. Markets are anticipating the JOTLS to fall to 7.2 million, which could contract the job openings per unemployment rate under the 1.0 level and add further concern about the labor market, despite a low unemployment rate.
DXY breached 99.00 and EMA21. The index remains between the bearish EMAs, indicating potential consolidation.
If DXY breaks below 99.00 again, the index could retreat toward the next support at 98.65.
Conversely, if the DXY moves above the EMA78, the index may advance toward the next resistance level at 99.45.
Meanwhile, today's US October JOLTS data may offer further clarity on the labor market following the delayed October NFP. Markets are anticipating the JOTLS to fall to 7.2 million, which could contract the job openings per unemployment rate under the 1.0 level and add further concern about the labor market, despite a low unemployment rate.
DXY breached 99.00 and EMA21. The index remains between the bearish EMAs, indicating potential consolidation.
If DXY breaks below 99.00 again, the index could retreat toward the next support at 98.65.
Conversely, if the DXY moves above the EMA78, the index may advance toward the next resistance level at 99.45.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.