During the European session on Thursday (January 10), the US dollar index picked up slightly at the recent low near the 95.00 mark and is now rising to the 95.30 area. The FOMC minutes released on Wednesday were biased towards doves, and the dollar fell to a three-month low near 95.00, but then rebounded. Ten-year US Treasury yields fell, detecting a low near 2.68%.
The dollar regained some positive momentum at the nearly three-month low of 95.00 after a sharp fall in the FOMC minutes in the FOMC minutes released on Wednesday.
The first wave of blows against the dollar yesterday came from the Atlanta Fed’s R. Bostic’s speech.interest rateRemarks that can be raised or lowered. After this FOMC minutes show that some officials have agreed to keep in December.interest rateUnchanged, and once again emphasized the Fed’s “elastic” position.
The dollar is expected to continue to be under pressure today, focusing on the speeches of Fed Chairman Powell and other officials. In terms of data, the number of initial jobless claims announced once a week will also receive attention.
Investors continue to focus on the US economy while the Fed tightens next monthcurrencyThe policy footsteps will determine the near-term direction of the dollar.
US dollar index focuses on technical position
According to FXStreet's technical analysis, the US dollar index is facing support at 95.03 (January 10 low), followed by 94.79 (16 October 2018 low) and 94.43 (August 23, 2018 low).
On the upside, if you can break through 95.96 (10-day SMA), you can open the door to 96.44 (21st SMA), then 96.96 (2 January 2019 high).
(Article source: FX168)