US Dollar index has climbed to 96.60 fresh weekly gains, although the index lacks strong conviction. reversing back to 96.20. Dovish tone of ECB helped the index gain some traction as President Draghi said that Euro bloc faces downside risk.
Meanwhile, initial jobless claims of US rose to 199k which is the lowest level since 1969 taking 4-week average from 220.5k to 215k.
US govt shutdown is denting the economic sentiment and will thicken further if remains unresolved. On the other hand, US-China trade concern is gradually returning to its swing.
Immediate resistance for the index lies at 96.60 ahead of 97.00 and then 97.30. On the flip side, immediate support is at 96.20 ahead of 95.75 and then 95.50.
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