April 07th Daily Analysis

April 07th Daily Analysis3


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


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


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

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