The USD is finding minor support this morning, but has stayed in a tight range early on because of the flare up in U.S./Chinese trade tensions from Chinese CFO being arrested in Canada and extradited to the U.S. This most likely indicates that traders are waiting on today’s set of U.S. data before the USD can attempt to extend rallies, especially because FED Chair Powell’s recent comments on U.S. rates being close to neutral.  Although ADP survey and jobless claims may be overlooked by traders because of tomorrows employment situation, the trade balance and factory orders readings could have more impact on the markets given what has happened the past week.  Support comes in at 9677 and 9556 with resistance at 9716 and 9736.

U.S. Dollar Index Dec ’18 Daily Chart

U.S. Dollar Index Dec '19 Daily Chart

800-826-2270312-373-4968Series 3 Licensed

Tony Cholly

Senior Market Strategist

Tony majored in Economics at Eastern Illinois University. He performed his thesis on the market price of corn in the market and the factors that affect it. Tony was drawn to futures trading because of the opportunity to have financial gains in an economic environment. He prides himself on working with customers one-on-one and developing a trading strategy based on the client's needs and wants.

Read More