FXStreet The US Dollar Index, the Greenback versus six other major currencies on a trade-weighted Basis, compares, stabilizing after the strong losses of the past few days.
US Dollar after U.S. data
The Index on Thursday in exchange rate losses, take a break, because there is currently no new developments around the scandal between Donald Trump, the FBI and Russia.
Nevertheless, in spite of the Trump-Trade is to be settled more because of the political Situation in the United States should, in the medium term will remain the price driver for the Greenback. As a possible increase in key interest rates in June even plays only the second fiddle.
According to CME Groups FedWatch Tool to estimate the age of the investors the probability of an Interest rate cut in the next month to just under 69 percent. This corresponds to 15 points less than a week ago.
The USD was today also of good US economic data supported. The weekly labour market data and the Philly Fed Index came out better than expected.
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The Index was last updated on 97,62 and, thus, to 0.29 per cent in the Plus. The next Resistances lie at 98,01 (High-17. May) 98,77 (High 16. May) and 98,84 (20-day line). Supports on the other hand, 97,28 (Deep 17. May 2017), 96,94 (Deep 04. November 2016) and 95,91 (Deep 09. Find November 2016).
** FXStreet News Editorial, FXStreet**