Dollar index

Today’s news cycle is providing a reprieve from yesterday’s pressure and U.S. equity markets are responded thus far. U.S. benchmarks traded lower into the bell and although the S&P 500 and Russell 2000 secured outside bearish daily settlements, both the S&P 500 and Nasdaq failed to close below our major three-star support, which would have signaled further immediate downside.
The U.S. dollar has been stuck trading in a narrow range for several weeks now after a significant correction since the start of 2017 came to a halt. Market participants have been considering whether the greenback has depreciated more than it should have given the still-positive fundamental backdrop.
Investors were on edge ahead of Jerome Powell’s highly-anticipated Humphrey-Hawkins testimony to the House Financial Services Committee.
Investors experienced a renewed sense of confidence on Wednesday morning following Wall Street’s rebound overnight.
The last trading day of the week is drawing to a close and after huffing and puffing all week the dollar fell further in response to the latest US economic data.
Comments on the NFP figures.

As we pointed out the possibility in our earlier report on gold, today’s U.S. economic numbers have disappointed the somewhat optimistic expectations.

Comments on the Dollar, the euro and WTI crude.
The Dollar ahead of the pending Q1 US GDP report.
The Dollar Index (DXY) gapped lower overnight as the outcome of the French election underpinned the euro, which makes up a big portion of the index.