(Vibiznews-FX) – The US Dollar index rises against some other major currencies today (05/11, 11.42 GMT). The index opened at 80.61 in early trading (00:00 GMT), and rises + 16 pips or about + 0.20 % at 80.77.
Meanwhile U.S. Institute for Supply Management is scheduled to report the data of the the level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry. ISM Non-Manufacturing PMI is estimated to fall to 54.6 from previous period of 55.1.
Still, the positive sentiment against US Dollar is seems to be increasing as investors optimism that U.S economy might perform better than other major economies is growing. The concern Greece will struggle to win bailout funds, risking the stability in the European currency bloc. Greek Prime Minister Antonis Samaras pledged yesterday that proposed wage and pension cuts will be the last, with the plan due to face parliamentary approval as early as this week.
Vibiz Consulting Analyst said normal range US Dollar currency index is estimated to have the support level at 79.98 and resistance level at 80.95. Technical reading at chart D1 shows that Dollar index has penetrated resistance on Ichimoku’s cloud.
(Indra Yudistira/IYD/vbn)
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25th April 2016
Index Dollar Rises; Optimism Toward U.S Economy Is Growing
