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14 Apr 2015
DXY off lows, around 98.60
FXStreet (Edinburgh) - After dipping to 3-day lows around the mid-98.00s, the US Dollar Index is slowly recovering some ground lost, currently in the 98.60/65 band.
DXY hurt by poor US docket
Disappointment has grown bigger amongst traders following the poor results from the US Retail Sales and the NFIB’s Business Optimism Index during March, sending the greenback to levels near 98.50.
After hitting levels just shy of the psychological mark at 100.00 last week, the US dollar sparked a correction lower, accelerated today after the US releases missed consensus.
Looking to Wednesday’s docket, Capacity Utilization, Industrial Production, TIC Flows, the NAHB index and the Fed’s Beige Book will be the main highlights along with the speech by Fed’s Bullard.
DXY relevant levels
The index is now losing 0.83% at 98.66 with the immediate support at 98.04 (low Apr.9) followed by 97.26 (low Apr.8) and finally 96.93 (low Apr.7). On the flip side, a surpass of 99.99 (high Apr.13) would target 100.00 (psychological handle) and then 100.19 (high Mar.16).
DXY hurt by poor US docket
Disappointment has grown bigger amongst traders following the poor results from the US Retail Sales and the NFIB’s Business Optimism Index during March, sending the greenback to levels near 98.50.
After hitting levels just shy of the psychological mark at 100.00 last week, the US dollar sparked a correction lower, accelerated today after the US releases missed consensus.
Looking to Wednesday’s docket, Capacity Utilization, Industrial Production, TIC Flows, the NAHB index and the Fed’s Beige Book will be the main highlights along with the speech by Fed’s Bullard.
DXY relevant levels
The index is now losing 0.83% at 98.66 with the immediate support at 98.04 (low Apr.9) followed by 97.26 (low Apr.8) and finally 96.93 (low Apr.7). On the flip side, a surpass of 99.99 (high Apr.13) would target 100.00 (psychological handle) and then 100.19 (high Mar.16).