U.S. Dollar Index remains under pressure as traders react to the Initial Jobless Claims report. The report indicated that 221,000 Americans filed for unemployment benefits in a week, compared to analyst forecast of 235,000.
In case U.S. Dollar Index stays below the 104.30 level, it will move towards the next support level, which is located in the 103.20 – 103.40 range. It should be noted that RSI is in the oversold territory, so the risks of a rebound are increasing.
USD/CAD pulled back as traders reacted to reports indicating that Donald Trump would defer tariffs on goods and services under the USMCA agreement.
In case USD/CAD settles below the 1.4250 level, it will head towards the next support level at 1.4150 – 1.4170.
