USD Index Recovers With Caution!
As long as 89.00 support holds on a weekly closing basis, the USD Index remains in a recovery mode and further upside could be seen to the 90.30/90.95 levels, a halt is likely and it may turn lower from here, but a break will extend recovery to the 92.38/93.17 levels, further upside, resistance comes at the 95.00 levels.
Due to a lack of important news and a good Friday holiday, the U.S dollar may correct higher.
On the downside, support comes at the 89.00 levels, a cut through this level will restore the downside momentum and open the 87.78 levels, further down, support comes at the 86.82 levels ahead of the 85.00 levels.
Conclusion: The USD Index sees recovery threats above the 89.00 levels with caution.
This is a list of the most important economic news for the week:
Monday, Mar 26
New York Fed boss William Dudley, Cleveland Fed President Loretta Mester, and Fed Governor Randal Quarles will speak.
Tuesday, Mar 27
The U.S will report on CB Consumer Confidence (Mar).
Atlanta Fed boss Raphael Bostic will speak at the Hope Global Forums Annual Meeting, in Atlanta.
Wednesday, Mar 28
The U.S will produce final data on fourth-quarter economic growth, followed by a report on pending home sales.
Thursday, Mar 29
Germany will release data on its Unemployment Change.
The UK will publish a final reading on British growth data for the fourth quarter.
The U.S will release weekly data on initial jobless claims and reports on personal income and spending, the Fed’s preferred metric for inflation, are on the agenda. Philadelphia Fed President Patrick Harker will speak on the economic outlook before a New York Association of Business Economics luncheon.
Canada will release data on the gross domestic product.
Friday, Mar 30
Global financial markets will stay closed for Good Friday.
You can follow the rest of the week’s economic events by visiting: