The US dollar index is trading higher as an
increase in demand for safe-haven assets. The
escalation of tension between Iran and Israel
increased after the Iran attacks on Israel
during the weekend.

US CPI came in above the estimated level, while
the PPI showed a minor weakness. The numbe
of people who have filed for unemployment
benefits dropped by 11000 to 211000 for the
week ended Apr 6th, 2024, compared to a
forecast of 216000.

According to the CME Fed watch tool, the
probability of a no-rate cut in June increased
to 77.6% from 48.50% a week ago
Major resistance- 106.20/107
Major support- 105/103.80