U.S. Dollar Index gains some ground as traders react to Initial Jobless Claims report. The report indicated that 226,000 Americans filed for unemployment benefits in a week, compared to analyst forecast of 221,000.
If U.S. Dollar Index climbs above the 98.50 level, it will head towards the 50 MA at 98.97. A move above the 50 MA will push U.S. Dollar Index towards the resistance at 99.20 – 99.40.
EUR/USD pulled back as traders reacted to the Industrial Production report from Germany. The report showed that Industrial Production declined by -1.9% month-over-month in June, compared to analyst consensus of -0.5%.
In case EUR/USD stays below the 1.1650 level, it will head towards the support level at 1.1575 – 1.1590.
