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The US dollar index trades flat as Middle East tension eases. It hit a high of 106.39 yesterday and is currently trading around 106.10.
According to the CME Fed watch tool, the probability of a no-rate cut in June increased to 84.80% from 78.70% a week ago.
Major resistance- 106.50/107
Major support- 105.35/104.45
Economic data for the day
Apr 23rd, 2024, US flash manufacturing PMI (1:45 pm GMT)
US flash services PMI
New home sales, Richmond Manufacturing index (2 pm GMT)
EURUSD-
EURUSD holds above 1.0650 ahead of a fully packed Eurozone economic data.
Eurozone economic calendar this week
Apr 23rd, 2024, German flash manufacturing and services PMI (7:30 am GMT)
EUR flash Manufacturing PMI (8:00 am GMT)
Major resistance-1.0700,1.0760
Major support- 1.0600,1.0500
Yen-
The pair showed a minor sell-off in hopes of a Japanese government intervention in forex markets. Any break above 155 confirms minor bullishness.
Major Resistance- 155,156
Major support- 154.20,153.50
Canadian Dollar
The Canadian dollar gained momentum as Middle East tension eased. Any break below 1.3660 confirms further bearishness
Resistance- 1.3765,1.3850
Major support- 1.3660,1.3600
