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14 May 2015
DXY finds support near 93.20
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main competitors, remains entrenched in the negative territory, currently hovering over 93.40/45.
DXY hurt by data, sentiment
The offered tone around the greenback gathered further steam in the second half of the week, reverting a promising start back on Monday. Disappointing retail sales during April in the US economy accelerated the downside on Wednesday, albeit the selling mood stays unchanged today.
Ahead in the session, the weekly report on the US labour market data is due along with the less relevant Producer Prices. Market consensus expect Initial Claims to come at 275K in the week ended on May 8th.
DXY relevant levels
The index is now losing 0.20 % at 93.43 with the next support at 93.17 (low May 14) followed by 92.51 (low Jan.22) and then 92.20 (low Jan.21). On the upside, a breakout of 93.75 (high May 14) would aim for 94.59 (high May 13) and finally 95.25 (high May 11).
DXY hurt by data, sentiment
The offered tone around the greenback gathered further steam in the second half of the week, reverting a promising start back on Monday. Disappointing retail sales during April in the US economy accelerated the downside on Wednesday, albeit the selling mood stays unchanged today.
Ahead in the session, the weekly report on the US labour market data is due along with the less relevant Producer Prices. Market consensus expect Initial Claims to come at 275K in the week ended on May 8th.
DXY relevant levels
The index is now losing 0.20 % at 93.43 with the next support at 93.17 (low May 14) followed by 92.51 (low Jan.22) and then 92.20 (low Jan.21). On the upside, a breakout of 93.75 (high May 14) would aim for 94.59 (high May 13) and finally 95.25 (high May 11).