FxWirePro- Forex Daily Update

The US dollar index trades flat as Middle East tension eases. It hit a high of 106.39 yesterday and is currently trading around 106.10.

According to the CME Fed watch tool, the probability of a no-rate cut in  June increased to 84.80% from  78.70% a week ago.

Major resistance- 106.50/107

Major support- 105.35/104.45

Economic data for the day

Apr 23rd, 2024, US flash manufacturing PMI   (1:45 pm GMT)

                           US flash services PMI  

New home sales, Richmond Manufacturing index  (2 pm GMT)

EURUSD-

EURUSD holds above 1.0650 ahead of a fully packed Eurozone economic data.

Eurozone economic calendar  this week

Apr 23rd, 2024, German flash manufacturing and services PMI  (7:30 am GMT)

EUR flash Manufacturing PMI (8:00 am GMT)

Major resistance-1.0700,1.0760

Major support- 1.0600,1.0500

Yen-

The pair showed a minor sell-off in hopes of a Japanese government intervention in forex markets. Any break above 155 confirms minor bullishness.

Major Resistance- 155,156

Major support- 154.20,153.50

Canadian Dollar

The Canadian dollar gained momentum as Middle East tension eased.  Any break below 1.3660 confirms further bearishness

Resistance- 1.3765,1.3850

Major support- 1.3660,1.3600