FXStreet — The Dollar Index, which represents the strength of the USD vs. its 6 most important rivals, quickly fell to 3-day low after the U.S. data were weak and failed. The 99,10 offers, however, be a support.
US Dollar deals with a bad CPI
The Index pulled back from 99,60 quickly and the new day was deeply formed by 99,10, according to which Inflation increased in April less than expected. On an annual basis, the result is 2.2%, after 2.4% in March. The core prices are up 1.9%, after 2.0% zvuor.
Added to that, the April retail sales, which fell 0.4% short of the forecast of 0.6%. On the sunnier side, the Reuters/Michigan consumer sentiment, which is in the current month, 97.7, 97.0 million previously.
The returns of the US money markets have been suffering the dismal results and the 10-year yield falls to new low under 2,34%. The market expectations of a June interest rate increase by the Fed have also fallen.
USD relevant levels
Currently, the daily loss of -0.41 of % 99,1 2 and the next supports is at 99,05 (23,6 % Fibo of the April-may decline), 98,96 (Deep-9. May) and 98,36 (2017 Deep-8. May). On the other hand, Resistances can be found at 99,61 (to the power of 10. May), 99,81 (50 % Fibo of the April-may decline), and 99,94 (High 21. April).
** FXStreet News Editorial, FXStreet**
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