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The U.S. dollar regained most of the land lost in the day, and the number of initial applicants fell below 300,000 for the first time since the epidemic

Oct 26, 2021 11:05

After bottoming out near 93.75 on Thursday (October 14), the U.S. dollar successfully attracted some buying interest, and the U.S. dollar index has recovered most of its lost ground.


The dollar index seems to be supported near 93.70


The index fell back and rebounded from a multi-day low in the 93.75 range. In the context of improving risk sentiment and falling U.S. Treasury yields, the index has been on the defensive.

In fact, the yield on the belly of the curve fell back to below 1.53%, while the longer-period Treasury yield successfully rebounded to the 2.07% region, reversing part of the recent mild correction.


The report shows that as of the week of October 8, the number of initial claims for unemployment benefits increased by 293,000, which was lower than expected and was the first time since March last year that it fell below 300,000. In September, the producer price index unexpectedly fell: a year-on-year increase of 8.6%, which was lower than the expected 8.7%, and the core index increased by 6.8%, which was also lower than the expected 7.1%.

In addition, St. Louis Fed President Brad said that he believes that the probability of a sustained increase in inflation is 50%. He also expressed doubts whether inflation will disappear completely in the next six months.

Dollar index correlation level


A break of 94.56 points (the 2021 high on October 12) will open the door to 94.74 points (monthly high on September 25, 2020) and 94.76 points (200-week moving average).

On the other hand, the next downside support appears at 93.83 (20-day moving average), followed by 93.67 (monthly low on October 4), and finally 92.98 (weekly low on September 23).

(Daily chart of the US dollar index)

GMT+8 22:11, the US dollar index was at 93.93.

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