12 May 2015
DXY off lows, near 94.40
FXStreet (Edinburgh) - The greenback, measured b the US Dollar Index, has managed to leave session lows and is now looking to retake the 94.40/45 band.
DXY hurt by risk appetite
The risk rally seems to be taking a breather now, allowing some respite for the US dollar while it keeps recovering the ground lost in early trade. Earlier on, a sharp sell off in the European debt markets boosted the risk-associated space and sent the index to test the 94.20 area, almost fully fading last week’s rebound from the 93.90 band to yesterday’s tops above 95.00.
In the data sphere, NFIB’s Business Optimism Index rose to 96.9 during April, surpassing both estimates and March’s reading.
DXY relevant levels
The index is now retreating 0.64% at 94.40 and a drop below 93.89 (low May 7) would aim for 93.80 (low Feb.17) and then 93.53 (low Feb.6). On the upside, the immediate resistance lines up at 95.25 (high May 11) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29).
DXY hurt by risk appetite
The risk rally seems to be taking a breather now, allowing some respite for the US dollar while it keeps recovering the ground lost in early trade. Earlier on, a sharp sell off in the European debt markets boosted the risk-associated space and sent the index to test the 94.20 area, almost fully fading last week’s rebound from the 93.90 band to yesterday’s tops above 95.00.
In the data sphere, NFIB’s Business Optimism Index rose to 96.9 during April, surpassing both estimates and March’s reading.
DXY relevant levels
The index is now retreating 0.64% at 94.40 and a drop below 93.89 (low May 7) would aim for 93.80 (low Feb.17) and then 93.53 (low Feb.6). On the upside, the immediate resistance lines up at 95.25 (high May 11) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29).