U.S. Dollar Index gains ground as traders react to the better-than-expected Composite PMI report. The report indicated that Composite PMI increased from 52.9 in June to 54.6 in July, compared to analyst forecast of 52.9.
In case U.S. Dollar Index manages to settle above the 97.50 level, it will head towards the resistance level at 98.00 – 98.20.
USD/CAD gains ground as traders react to the pullback in precious metals markets. Other commodity-related currencies are also losing ground in today’s trading session.
A successful test of the resistance level at 1.3650 – 1.3665 will open the way to the test of the next resistance at 1.3735 – 1.3750.
