26 Sep 2013
US Dollar index paring losses
FXstreet.com (Edinburgh) -The greenback, tracked by the US Dollar Index, is recovering ground after Wednesday’s strong pullback, retaking the 80.40 region so far.
DXY swings on US data
The recent mixed tone from US economic releases would be behind the USD’s erratic path since Monday, in collaboration with increasing concerns that the US government spending could be shut down in October. “With the deadline looming on Monday focus in the US will continue to be on the negotiations about an agreement for funding non-mandatory government spending for the new budget-year to avoid a government shutdown”, suggested Analyst Morten Helt at Danske Bank.
DXY levels to watch
The index is now up 0.12% at 80.42 with the next resistance at 81.35 (high Sep.17) followed by 81.93 (high Sep.11) and finally 82.50 (high Aug.2). On the downside, a break below 80.06 (low Sep.18) would open the door to 79.49 (low Feb.6) and then 78.93 (low Feb.1).
DXY swings on US data
The recent mixed tone from US economic releases would be behind the USD’s erratic path since Monday, in collaboration with increasing concerns that the US government spending could be shut down in October. “With the deadline looming on Monday focus in the US will continue to be on the negotiations about an agreement for funding non-mandatory government spending for the new budget-year to avoid a government shutdown”, suggested Analyst Morten Helt at Danske Bank.
DXY levels to watch
The index is now up 0.12% at 80.42 with the next resistance at 81.35 (high Sep.17) followed by 81.93 (high Sep.11) and finally 82.50 (high Aug.2). On the downside, a break below 80.06 (low Sep.18) would open the door to 79.49 (low Feb.6) and then 78.93 (low Feb.1).