• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

The dollar index rose above 102.50 after Friday’s top news

by October 7, 2024
written by October 7, 2024

The dollar index rose above 102.50 after Friday’s top news

On Friday, the dollar index rose to 102.68, forming a new October high

Dollar index chart analysis

On Friday, the dollar index rose to 102.68, forming a new October high. Positive news for NFP, The unemployment rate and Average Hourly Earnings influenced us to see a strong bullish impulse from 101.85 to 102.60. At the end of the day, the index stopped at 102.48.

During this morning’s Asian trading session, the movement was in a narrow range of 102.40-102.60. The market is very calm for now, and we will probably see more volatility on the chart only during the US session. An impulse to 102.80 would be an excellent sign that we continue on the bullish side. After that, we expect the dollar index to reach 103.00 levels. The previous time we were at that level was a month and a half ago.

 

The index could take a step lower this week to consolidate better

For a bearish option, we need a negative consolidation and a drop below the 102.40 level. Thus, we move to a new daily low and confirm the bearish pressure on the dollar. After that, we should see a further pullback to 102.20. There, we will come across the EMA 50 moving average, which was stable support for us last week. This time, we are looking for a break below and a continuation of the path to the bearish side. Potential lower targets are 102.00 and 101.80 levels.

This week, the volume of important economic news is lower. Tomorrow, RBNZ plans to cut interest rates from 5.25% to $4.75, later in the US session, US Crude Oil Inventories, 10-year Note Auction, and FOMC Meeting Minutes. The FOMC meeting could affect the larger movements of the dollar index. Hints of future monetary policy: The interest rate cut by the Fed is the most important report for the US currency. Friday’s news showed that the US economy is stable. That should be a good sign that the Fed should continue to cut interest rates to keep pushing the US economy.

 

The post The dollar index rose above 102.50 after Friday’s top news appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
EURUSD and GBPUSD: New week, new targets and prices
next post
Oil and natural gas: Oil again above $75.00 on Friday

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • US, Panama ‘taking back’ canal from ‘China’s influence,’ says Hegseth

    April 8, 2025
  • Over 3 million on Social Security may wait more than a year for higher payments

    January 29, 2025
  • ‘Designated terrorists’: Extremist groups raked in millions from USAID, multiyear study reveals

    February 11, 2025
  • Left-wing dark money network hauled in more than $1.3B in anonymous donations for liberal causes in 2023

    November 16, 2024
  • Haley takes stage to mixture of cheers and boos at RNC

    July 17, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,735)
  • Investing (624)
  • Stock (775)

Latest Posts

  • Long AMAT: Applied Materials Shows Bullish Reversal at Major Support, Targeting Midpoint of Recent Bearish Impulse

    July 23, 2024
  • Former VP contenders Rubio, Burgum in running for Trump admin secretary of state: report

    July 30, 2024
  • Trump taps Matt Gaetz for attorney general

    November 13, 2024

Recent Posts

  • S&P 500 and Nasdaq: New Targets and Prices for Wednesday

    October 9, 2024
  • US releasing Russian prisoner Alexander Vinnik in Marc Fogel exchange, official says

    February 12, 2025
  • Netanyahu gifts Fetterman a silver-plated beeper after he praised Israel’s Lebanon pager operation

    March 20, 2025

Editor’s Pick

  • Universal’s Epic Universe theme park set to open in May 2025

    October 18, 2024
  • Top Hegseth advisor Dan Caldwell placed on administrative leave by Defense Department

    April 15, 2025
  • Amazon is responsible for dangerous products sold on its site, federal agency rules

    July 31, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock