US dollar moves higher after better US data

US dollar moving higher

The DXY index is trading above a swing area going back to June and July 2020 and 95.739 and trades at the highest level since July 20, 2020. The better US data (retail sales and industrial production) are helping the bias. Feds Bullard was going for a quicker QE taper. Looking at the dollar index (DXY) daily chart, the next major target comes in at the 50% midpoint of the move down from the March 2020 high. That level comes in at 96.094.

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November 17, 2021 at 02:32AM
Greg Michalowski
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