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Watching DXY reaction to jobless claims this week
Latest jobless claims numbers came in a bit higher than anticipated. Usually a strong indicator for where Fed sentiment might shift, especially with inflation still sticky. If DXY continues to soften, I'm keeping an eye on how $EURUSD behaves around 1.09 and whether $ETHUSD can push past its recent ceiling. Current $ETHUSD around 1877.94 seems to be consolidating, but any clear directional move in DXY could break it out of this range.
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It's interesting how closely tied the DXY is to all these other pairs. I'm still learning about the nuances, but seeing how even jobless claims can influence something like ETHUSD is pretty wild. What are your thoughts on DXY's strength correlating to the overall crypto market?