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13 Apr 2015
DXY trimmed gains, near 99.00
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, has almost fully reversed the spike to the vicinity of 100.00 the figure, now hovering over the 99.00 handle.
DXY capped by 100.00
The strong initial upside of the index seems to have run out of legs at shouting distance from the psychological handle at 100.00 today, sparking the current knee-jerk to the area of 99.00 although managing to keep marginal gains so far.
There were no data releases in the US economy today, although market participants will look to March’s US Retail Sales (Tuesday) as the immediate risk event for the greenback (1.1% MoM exp.).
DXY relevant levels
The index is now up 0.11% at 99.44 and a break above 99.99 (high Apr.13) would target 100.00 (psychological handle) and then 100.19 (high Mar.16). On the downside, the immediate support lines up at 99.23 (low Apr.13) followed by 98.84 (low Apr.10) and finally 98.04 (low Apr.9).
DXY capped by 100.00
The strong initial upside of the index seems to have run out of legs at shouting distance from the psychological handle at 100.00 today, sparking the current knee-jerk to the area of 99.00 although managing to keep marginal gains so far.
There were no data releases in the US economy today, although market participants will look to March’s US Retail Sales (Tuesday) as the immediate risk event for the greenback (1.1% MoM exp.).
DXY relevant levels
The index is now up 0.11% at 99.44 and a break above 99.99 (high Apr.13) would target 100.00 (psychological handle) and then 100.19 (high Mar.16). On the downside, the immediate support lines up at 99.23 (low Apr.13) followed by 98.84 (low Apr.10) and finally 98.04 (low Apr.9).