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Graphic Rewind: US Dollar Declines for the 9th Consecutive Day

Graphic Rewind: US Dollar Declines for the 9th Consecutive Day

Benjamin Spier, Technical Strategist

Talking Points:

  • US Dollar Index declines nine straight days
  • Greenback rises on higher Australian unemployment
  • US jobless claims and retail sales disappoint expectations

A look back at the past 24 hours of Forex trading using movements in the US Dollar Index:

US Dollar 15-Minute 12:00 02/12 to 12:00 02/13 EST

Graphic_Rewind_US_Dollar_Declines_for_the_9th_Consecutive_Day_body_Picture_1.png, Graphic Rewind: US Dollar Declines for the 9th Consecutive Day

Want to trade with proprietary strategies developed by FXCM? Find out how here.

The Dow Jones FXCM US Dollar Index has declined for the ninth consecutive day in Thursday’s trading, setting a new 2-month low below 10,600.

The dollar first jumped 20 points higher in the beginning of the Tokyo session on the release of disappointing Australian employment data. The Australian unemployment rate rose to a 10-year high in January, sending the Australian Dollar 60 pips lower against the US Dollar.

The greenback index slowly erased those gains over the rest of the Tokyo session, and the dollar fell lower

in the London session against the Euro despite a lack of significant news. USD then took a final dip to

10,580 on a simultaneous release of

jobless claims and retail sales, as both data measures disappointed expectations.

New to Forex? Watch this video

Charts created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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