The US dollar index was trading flat ahead of the US FOMC rate decision. It hit a high of 106.18 and is currently trading around 105.83.
According to the CME Fed watch tool, the probability of a no-rate cut in June increased to 88.40% from 83.50% a week ago.
Major resistance- 106.50/107
Major support- 105.35/104.45
Economic data for the day
Apr 30th, 2024, Chicago PMI (1:45 pm GMT)
US CB consumer confidence (2 pm GMT)
S&P/CS Composite-20 HPI y/y (1 pm GMT)
EURUSD-
EURUSD showed a minor decline despite strong German CPI. Annual German inflation came unchanged at 2.2%. It rose 0.50% m/m in Apr from 0.40% in Mar.
Major Eurozone Economic data this week
Apr 30th, 2024, Core CPI Flash estimate y/y
Major resistance-1.0760,1.0800
Major support- 1.0660,1.0600
Yen-
The pair pared most of its gains after speculation of FX intervention. Any break below 154.95 confirms major bullishness.
Major Resistance- 161,163
Major support- 154.50,153.50
Canadian Dollar
The Canadian dollar lost its shine on weak crude oil prices. Any break below 1.3600 confirms further bearishness.
Resistance- 1.3700,1.3750
Major support- 1.3660,1.3600
