- The index tumbles to 96.60, session lows.
- ADP report missed consensus at 179K in November.
- US ISM Non-manufacturing came in at 60.7 during last month.
The greenback now comes under further downside pressure, forcing the US Dollar Index to slip back to the 96.70/60 band, or fresh daily lows.
US Dollar Index offered post-data
The index is losing further momentum despite the key US ISM Non-manufacturing surprised to the upside in November at 60.7.
On the not-so-bright side, October’s Factory Orders contracted at a monthly 2.1%, more than initially forecasted. Earlier in the session, the ADP report showed the US private sector added 179K jobs during last month, missing consensus. In addition, the trade deficit widened to $55.5 billion in October.
The index remains under pressure in the meantime, receding from another failed attempt to break above weekly peaks around 97.20, always on the back of an improved tone in the risk-associated space.
US Dollar Index relevant levels
As of writing the index is losing 0.38% at 96.66 facing the next support at 96.32 (low Nov.22) followed by 96.04 (low Nov.20) and finally 95.68 (low Nov.7). On the upside, a break above 97.53 (high Nov.28) would open the door to 97.69 (2018 high Nov.12) and then 97.87 (61.8% Fibo retracement of the 2017-2018 drop).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.