3 Oct 2013
US Dollar in session lows around 79.80
FXstreet.com (Edinburgh) -The greenback, tracked by the US Dollar Index, is extending the weekly decline, hovering over 79.85/80 ahead of US data.
DXY focus on data
The selling sentiment around the greenback appears to everything but over, intensified after President Obama and congressional leaders failed to seal an agreement to unlock the US Government shutdown in their meeting on Wednesday. Results below estimates from the ADP report on Wednesday also added to the downside pressure. Data-wise, today’s US docket seems pretty interesting as Factory Orders, Initial Claims and the ISM non manufacturing are due later. Marcin Budkiewicz, Strategist at TD Securities, commented, “The extent of risk-off moves has so far been limited as investors count on another 11th hour agreement, but the quickly approaching debt ceiling negotiations will eventually test market nerves. The closer we get to this date without a successful resolution to the shutdown, the more likely we are to see a risk-off trade accelerate”.
DXY levels to consider
The index is now losing 0.06% at 79.85 and a break below 79.49 (low Feb.6) would aim for 78.93 (low Feb.1) and finally 78.60 (Sep.14 2012). On the upside, the first hurdle aligns at 81.35 (high Sep.17) followed by 81.93 (high Sep.11) and finally 82.50 (high Aug.2).
DXY niveles críticos
DXY focus on data
The selling sentiment around the greenback appears to everything but over, intensified after President Obama and congressional leaders failed to seal an agreement to unlock the US Government shutdown in their meeting on Wednesday. Results below estimates from the ADP report on Wednesday also added to the downside pressure. Data-wise, today’s US docket seems pretty interesting as Factory Orders, Initial Claims and the ISM non manufacturing are due later. Marcin Budkiewicz, Strategist at TD Securities, commented, “The extent of risk-off moves has so far been limited as investors count on another 11th hour agreement, but the quickly approaching debt ceiling negotiations will eventually test market nerves. The closer we get to this date without a successful resolution to the shutdown, the more likely we are to see a risk-off trade accelerate”.
DXY levels to consider
The index is now losing 0.06% at 79.85 and a break below 79.49 (low Feb.6) would aim for 78.93 (low Feb.1) and finally 78.60 (Sep.14 2012). On the upside, the first hurdle aligns at 81.35 (high Sep.17) followed by 81.93 (high Sep.11) and finally 82.50 (high Aug.2).
DXY niveles críticos