U.S. Dollar Index gains ground as traders react to the better-than-expected ISM Manufacturing PMI report. The report indicated that ISM Manufacturing PMI increased from 48.7 in August to 49.1 in September, compared to analyst forecast of 49. Numbers below 50 show contraction.
The nearest resistance level for U.S. Dollar Index is located in the 98.00 – 98.20 range. A move above the 98.20 level will push U.S. Dollar Index towards the next resistance at 98.85 – 99.00.
USD/CAD gains ground as traders react to the disappointing Manufacturing PMI report from Canada. The report showed that Manufacturing PMI declined from 48.3 in August to 47.7 in September, compared to analyst consensus of 48.
A move above the 1.3950 level will open the way to the test of the next resistance level at 1.4000 – 1.4015.
