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11 Mar 2015
DXY much firmer, eyes 100.00
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, remains unstoppable during the present month and is now clinching the upper end of the 99.00 handle.
DXY up on risk aversion, FOMC
The dominance of the risk aversion in the global markets is giving the US dollar extra oxygen today. The index has been already advancing firmly following the stellar US Payrolls from the last month, against a backdrop of mounting speculations on a hawkish tone in next week’s FOMC meeting and a potential rate hike in June.
Next of relevance in the US docket will be tomorrow’s Retail Sales and the Investor Confidence gauged by the Reuters/Michigan index due on Friday.
DXY levels to consider
The index is now advancing 1.18% at 99.78 with the next resistance at 100.00 (psychological level). On the downside, a breakdown of 97.77 (low Mar.10) would target 97.31 (low Mar.9) en route to 96.32 (low Mar.6).
DXY up on risk aversion, FOMC
The dominance of the risk aversion in the global markets is giving the US dollar extra oxygen today. The index has been already advancing firmly following the stellar US Payrolls from the last month, against a backdrop of mounting speculations on a hawkish tone in next week’s FOMC meeting and a potential rate hike in June.
Next of relevance in the US docket will be tomorrow’s Retail Sales and the Investor Confidence gauged by the Reuters/Michigan index due on Friday.
DXY levels to consider
The index is now advancing 1.18% at 99.78 with the next resistance at 100.00 (psychological level). On the downside, a breakdown of 97.77 (low Mar.10) would target 97.31 (low Mar.9) en route to 96.32 (low Mar.6).