FX:USDOLLAR   Dow Jones FXCM Dollar Index
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The dollar index             bounced off resistance after making a new 5 day high following key US data. We are currently negative for the day. Daily close Support comes in at 11828 and resistance at 11913. The dollar is clearly in a down trend and you can see that in most currencies being positive against the US Dollar             so far this year.

  • Consumer prices rise 0.1 percent in March.
  • Core CPI             edges up 0.1 percent, slows from February.
  • Weekly jobless claims fall 13,000

U.S. consumer prices barely rose in March and underlying inflation slowed, suggesting little urgency for a cautious Federal Reserve to raise interest rates in the near term. A rate hike is unquestionably off the table for April, with a June rate increase increasingly unlikely barring a surge in domestic activity and perceived calm on the international front," said Lindsey Piegza, chief economist at Stifel Fixed Income in Chicago. core CPI             , which strips out food and energy costs, inched up 0.1 percent after two strong monthly readings. March's increase in the core CPI             was the smallest since August and followed a 0.3 percent rise in February. The Fed has a 2 percent inflation target and tracks an inflation measure which is running below the core CPI             .

The Fed's policy-setting committee meets on April 26-27. Market-based measures of Fed policy expectations have priced out a rate hike at this month's meeting and have almost eliminated the chances of a move in June, according to CME Group's Fed Watch. It currently gives a 41 percent probability of a rate increase in November and a 55 percent chance in December. The Fed lifted its benchmark overnight interest rate in December for the first time in nearly a decade and policymakers recently forecast only two more rate hikes this year.

In a second report, the Labor Department said initial claims for state unemployment benefits decreased 13,000 to a seasonally adjusted 253,000 for the week ended April 9. That matched the level for early March, which was the lowest since November 1973. Jobless claims have now been below 300,000, a threshold associated with healthy labor market conditions, for 58 weeks, the longest stretch since 1973. Below are screen shots of todays             data.

Comment: Note: I can't trade the dollar Index, I'm a US citizen but I do watch
it as a gauge to overall Dollar strength or weakness.
Comment: the 14th daily candle close as a Doji after pulling back from resistance
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