US Dollar Soars, Strong Economic Data Outweighs Debt Concerns

Better-than-expected US economic data lifted the Dollar higher even as the debt ceiling talks failed to generate an agreement. Claims for Unemployment benefits in the latest week fell to 229,000, bettering estimates at 242,000. US Q1 GDP rose by 1.3%, up from 1.1% previously.

The Dollar Index (DXY), which weighs the value of the Dollar against a basket of 6 majors, broke through the 104.00 barrier, finishing at 104.22, its highest level since mid-March (103.15 yesterday).

Join us at next month's Seminar: Fundamentals of Forex Masterclass, hosted by Luca Santos.

FOMC Minutes Highlights

BOTTOM LINE:?The minutes of the May FOMC meeting acknowledged that the certainty regarding the need for further monetary policy tightening had diminished.?

Some of the biggest moves occurred last night, and Duncan's webinar replay captured all the key trading levels you must watch for the session ahead.

The replay covers the AUDJPY, AUDUSD, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDJPY, NZDUSD, USDCAD, USDJPY, USD index, Gold, and the S&P 500.

Disclaimer: Trading Involves Risk.