April 07th Daily Analysis
April 07th Daily Analysis3
DOLLAR INDEX (USDX)
The US dollar rose in early European settlement as risk sentiment favoring the safe haven weakened. However, it remained near two-month lows as a cold economy signals a pause in the US Federal Reserve’s rate hike cycle.
The dollar index is now recording 101.640, up 0.1% against a basket of foreign currencies, and trading today above the two-month low of 101.140 seen during the previous session.
Please note that there is an early closure on the dollar index today at 7:15 pm Dubai time.
Pivot Point: 101.40
DOW JONES INDEX (DJ30FT – US30)
The Dow Jones index rose slightly by 0.01%, or the equivalent of 2.5 points, to close at 33485 points. Microsoft stock topped the list of the highest gainers after rising by 2.5%, recording its highest closing in more than 7 months.
Over the course of the week, the index rose by 0.6%, achieving gains for the third consecutive week.
Please note that there is an early closure on the Dow Jones today at 5:15 pm Dubai time.
Pivot Point: 33625
BRITISH POUND (GBPUSD)
The British pound fell 0.1% to $1.2450, while the euro fell 0.2% to $1.0886, after the dollar rose slightly since yesterday, as markets await the US non-farm payrolls data.
Pivot Point: 1.2445
