The dollar index continued its struggle to violate the psychological brand 100 for the second consecutive week. The index was abruptly recovered from a minimum of 97.92, but failed to violate 100. The price action in the second half of the week indicates the absence of strong buyers to take the index above 100. As such, the General Index of Batter Perspectives.
Data clock
Next week has a couple of important data releases to observe closely. The US PERSONAL CONSUMPTION EXPENSE (PCE), the Federal Reserve Inflation Meter will be launched on Wednesday. A higher PCE number would help the green back to ascend.
On Friday, the non -agricultural payroll and inemployent data will be published. An increase in the unemployment rate will indicate a slowdown in the economy of the United States. The inefficient rate is currently 4.2 percent.
Dollar perspective
The view remains the same. The dollar index (99.47) has good resistance in the region of 100-100.50. While the index is negotiated under this resistance zone, Bearerish’s perspective. The index can fall to 96, a long -term crucial support.
A decisive increase is needed above 100.50 to give a break. If that happens, we can see a corrective increase at 102.50.
Weak yields
The 10 -year Treasury performance of the USA (4.23 percent) could not keep the break above 4.4 percent last week. He touched a high or 4.43 percent and has dropped from there. The IMEDIATED SUPPORT is 4.2 percent. But the performance seems vulnerable to break below. Such rest can reduce to 4 percent initially. A break below 4 percent can drag it to 3.9-3.85 percent again.
The 10 -year yield has to violate 4.45 percent decisively to gain impulse. Only then an increase in 4.6 percent and the highest levels will enter the scene.
Limited disadvantage
The euro (euusend: 1.1365) has left abruptly from the maximum of 1,1573. The IMEDIATED SUPPORT is in region 1.13-1.1270. A break below 1,1270 can reduce the currency to 1,1170-1.1150. This region of 1,1170-1.1150 is a strong support. A fall below 1,1150 is unlikely.
The euro can be raised again from this support zone of 1,1170-1.1150 and return to 1.15-1.16 again. That will maintain the widest bullish trend. From a general panorama, the euro has the potential to aim at 1.20 upwards in the coming months.
Mixed perspective
The Indian rupee (USDINR: 85.45) remained volatile and is tied last week. The national currency ranged in a range U 85.03-85.67. The immediate perspective is not very clear. For now, 85-85.70 seems to be the negotiation range.
The resistance to the 85 remains well. That keeps the Chans alive so that the rupee breaks 85.70 and falls to 86 and 86.30 in the short term.
The rupee has to make a decisive breakdown above 85 to gain strength. Only then an increase to 84.60 will enter the scene.
Posted on April 26, 2025
