25 Jul 2013
US Dollar Index bounces off lows
FXstreet.com (Edinburgh) - The greenback, gauged by the US Dollar Index, is grinding lower on Thursday, despite the not-so-bad results from the US docket earlier on.
DXY capped by 82.40
After this morning’s climb to session highs around 82.40, the index failed once again to follow through that level, being rejected soon afterwards to intraday lows in the vicinity of 82.00 the figure. In light of the next FOMC meeting, Strategist Eric Green at TD Securities assessed “Nothing will emerge at this meeting to alter our assumption that tapering begins this September, but efforts to gain more traction on forward guidance would prove good for bonds and stocks, less so for the USD”.
DXY key levels
The index is now retreating 0.18% at 82.11 with the next support at 81.90 followed by 81.60 and then 81.25. On the flip side, a break above 82.55 would bring 82.75 and then 83.30.
DXY capped by 82.40
After this morning’s climb to session highs around 82.40, the index failed once again to follow through that level, being rejected soon afterwards to intraday lows in the vicinity of 82.00 the figure. In light of the next FOMC meeting, Strategist Eric Green at TD Securities assessed “Nothing will emerge at this meeting to alter our assumption that tapering begins this September, but efforts to gain more traction on forward guidance would prove good for bonds and stocks, less so for the USD”.
DXY key levels
The index is now retreating 0.18% at 82.11 with the next support at 81.90 followed by 81.60 and then 81.25. On the flip side, a break above 82.55 would bring 82.75 and then 83.30.