15 Jun 2015
DXY turns negative below 95.00
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, continues to shed ground on Monday, now testing session lows in the 94.90 area.
DXY lower post-US data
The greenback has reverted the initial positive tone vs. its main rivals, although it ultimately succumbed to the mounting selling pressure along with a pick up in the risk appetite trends.
Data wise, the (transitory?) weaker momentum in the US economy has echoed today in the Empire State manufacturing index, Industrial Production and Capacity Utilization, all coming in below estimates. The only exception, albeit insufficient, was the NAHB index, surpassing previous estimates for the current month.
DXY levels to watch
The index is now retreating 0.14% at 94.83 with the immediate support at 94.32 (low Jun.10) followed by 94.09 (low May 19) and finally 93.27 (low May 18). On the flip side, a break above 95.68 (high Jun.12) would open the door to 96.91 (high Jun.5) and then 97.68 (high Jun.1).
DXY lower post-US data
The greenback has reverted the initial positive tone vs. its main rivals, although it ultimately succumbed to the mounting selling pressure along with a pick up in the risk appetite trends.
Data wise, the (transitory?) weaker momentum in the US economy has echoed today in the Empire State manufacturing index, Industrial Production and Capacity Utilization, all coming in below estimates. The only exception, albeit insufficient, was the NAHB index, surpassing previous estimates for the current month.
DXY levels to watch
The index is now retreating 0.14% at 94.83 with the immediate support at 94.32 (low Jun.10) followed by 94.09 (low May 19) and finally 93.27 (low May 18). On the flip side, a break above 95.68 (high Jun.12) would open the door to 96.91 (high Jun.5) and then 97.68 (high Jun.1).