The dollar index fell to one week low on Thursday, extending weakness into second consecutive day, after being pressured by dovish comments from Fed Chair Powell, while weaker than expected ADP private sector payrolls report further soured the sentiment. Fresh acceleration lower broke below daily Tenkan-sen and is pressuring pivotal supports at 105.00/104.90 zone (psychological […]
The post Dollar Index Outlook: Dollar Extends Weakness after Downbeat ADP Data appeared first on Action Forex.
Key Highlights Gold started a fresh increase from the $2,535 support. It broke a major bearish trend line with resistance at $2,630 on the 4-hour chart. Oil prices are recovering and might rise toward the Read more…
Canadian Dollar and Mexican Peso faced sharp declines after US President-elect Donald Trump announced plans for aggressive trade measures targeting Canada, Mexico, and China. Trump stated that on January 20, as one of his first Read more…
Minneapolis Fed President Neel Kashkari signaled that a rate cut at the December meeting remains a “reasonable consideration,” reflecting ongoing debates within the central bank. Speaking to Bloomberg TV, Kashkari stated, “Right now, knowing what Read more…