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12 Aug 2013
US Dollar Index keeps highs above 81.40
FXstreet.com (Edinburgh) -The US Dollar index, which tracks the world’s reserve against its major competitors, is extending Friday’s advance and consolidating above the 81.00 handle.
DXY vs. US docket
The USD will be on centre stage in the upcoming sessions, as key data are due in the US economy: Retail Sales (Tuesday), Consumer Prices, Philly Fed manufacturing survey and the weekly report on the labour market (Thursday) and Building Permits, Housing Starts and the Consumer Sentiment sponsored by the Reuters/Michigan index (Friday). According to the last CFTC COT report, Strategist Jane Foley at Rabobank commented, “USD longs held very stable last week, comfortably above the June/early July lows. The market is awaiting further news about the US economy and the outlook for Fed policy”.
DXY key levels
The index is now advancing 0.34% at 81.41 and a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9). On the flip side, support levels align at 80.50 (low Jun.19) followed by 80.27 (low Feb.20) and finally 79.84 (low Feb.19).
DXY vs. US docket
The USD will be on centre stage in the upcoming sessions, as key data are due in the US economy: Retail Sales (Tuesday), Consumer Prices, Philly Fed manufacturing survey and the weekly report on the labour market (Thursday) and Building Permits, Housing Starts and the Consumer Sentiment sponsored by the Reuters/Michigan index (Friday). According to the last CFTC COT report, Strategist Jane Foley at Rabobank commented, “USD longs held very stable last week, comfortably above the June/early July lows. The market is awaiting further news about the US economy and the outlook for Fed policy”.
DXY key levels
The index is now advancing 0.34% at 81.41 and a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9). On the flip side, support levels align at 80.50 (low Jun.19) followed by 80.27 (low Feb.20) and finally 79.84 (low Feb.19).