Abstract:Alternatively, the dollar index held above 104 pts on Tuesday, near its highest levels in ten weeks, supported by strong economic data from the United States that reinforced expectations of further policy tightening and the news of that a tentative debt ceiling agreement was reached over the weekend.
Alternatively, the dollar index held above 104 pts on Tuesday, near its highest levels in ten weeks, supported by strong economic data from the United States that reinforced expectations of further policy tightening and the news of that a tentative debt ceiling agreement was reached over the weekend. Data released on Friday showed US PCE prices, the Federal Reserve's preferred inflation gauge, rose more than expected in April. Meanwhile, US consumer spending and durable goods orders also beat forecasts in April, indicating that the US economy remains resilient to higher interest rates. And in one last point,
A view of the Analyst
For now we are seeing a mixed scenario based on the data presented, for the moment we will look for resistance where the instrument could go to reach the resistance of $815 that has been marked very strong, yesterday, responding to the rebound in the mean of 200 periods. But if the appreciation of copper continues we could see a support scenario that could lead the instrument to the important support of $786 and break this go in search of $775. For now, everything remains in a channel of several months that goes between $836 and $775 pesos.
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