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USD testing 91.00 after a minor sell off overnight.

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USD testing 91.00 after a minor sell off overnight.

By Scott Andrews

 

USD index 04 05 2021

Key points of economic data relating to the USD index:

  • ISM manufacturing index decreased to 60.7 in April from 64.7 in March, due to continued supply constraints.
  • Increase in residential construction
  • Decreases in spending on non-residential construction and public construction, reported by the Commerce Department last night.
  • U.S. construction spending rose by much less than expected in the month of March.

These less than expected data releases overnight GMT+8 time zone helped to move the US dollar back down to 91.00 further downside to the 90.80 can be anticipated for a continued range bound pattern is likely. Buying opportunity off 90.80 is on my radar no immediate trades until price moves to 90.80

USD testing 91.00 after a minor sell off overnight.

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