The US dollar index gained momentum after upbeat US durable goods orders. It hit a high of 104.42 yesterday and is currently trading around 104.35.
US durable goods orders rose by 1.4% in Feb, compared to a forecast of 1.1%. Core Durable goods orders excluding transportation increased by 0.50% vs. an estimate of 0.40%.
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in June % decreased to 58.30% from 63.70% a day ago.
The US 10-year yields declined more than 1% after mixed US economic data. The US 10 and 2-year spread narrowed to -35.5% from -53%.
Major resistance- 104.50/106
Major support- 103.40/102.70
EURUSD-
EURUSD showed a minor sell-off despite mixed US data. Richmond Fed manufacturing activity declined to -11 in Mar, below the estimate of -5. US conference board consumer confidence dropped to 104.70 in Mar (three months low) vs. an Estimate of 106.90. Eurozone economic data today
Mar 26th, 2024, Spanish flash CPI y/y (8 am GMT)
Major resistance-1.0880,1.0950
Major support- 1.0800,1.0760
Yen-
The pair hits a fresh multi-month high after BOJ's dovish commentary. Any break above 152 confirms minor bullishness.
Major Resistance- 152,153
Major support- 150,149
Canadian Dollar
The Canadian dollar trades weak on board-based US dollar buying.
Resistance- 1.3620,1.3660
Major support- 1.3550,1.3500


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