Forex Analysis by Investing.com (Günay Caymaz) covering: US Dollar Index. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
Strong jobs data and geopolitical tensions boost the Dollar Index ahead of key inflation reports.Ahead of the report, the US dollar bulls will look to build on bullish momentum from last week.The latest employment report, released on Friday, showcased the U.S. economy's resilience, revealing a surprising increase of 254,000 non-farm jobs in September—far surpassing the anticipated 140,000.
This rebound reflects positive economic indicators that suggest a soft landing for the U.S. economy, coupled with a shift in expectations regarding interest rate cuts. Conversely, following the pricing of these developments, a consolidation phase for the dollar seems plausible. The upcoming U.S. inflation report for September will be pivotal in determining the DXY’s next steps.
Any persistent inflation could apply downward pressure on the dollar, challenging even minimal rate cut expectations from the Fed. The presence of the three-month EMA at this juncture reinforces the strength of the resistance at the 102 level.
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