20 Feb 2015
DXY flat around 94.50
FXStreet (Edinburgh) - The US dollar index, which tracks the greenback vs. its main rivals, has faded the initial spike to weekly peaks around 94.90 and is now returning to the opening levels.
DXY hurt by Greece events
The never-ending confusion around Greece and its proposal to renegotiate its debt remains the main driver for the broader markets, prompting the dollar to give away its initial gains and confining the index to the 94.45/50 band.
In the data sphere, US manufacturing PMI gauged by Markit surprised investors today, advancing to 54.3 for the current month vs. estimates at 53.6 and January’s 53.9.
DXY important levels
The index is now down 0.01% at 94.47 with the next resistance at 94.89 (high Feb.20) followed by 95.10 (high Feb.12) and then 95.23 (high Feb.11). On the downside, a break below 93.90 (low Feb.19) would aim for 93.87 (low Feb.17) and finally 93.39 (low Feb.3).
DXY hurt by Greece events
The never-ending confusion around Greece and its proposal to renegotiate its debt remains the main driver for the broader markets, prompting the dollar to give away its initial gains and confining the index to the 94.45/50 band.
In the data sphere, US manufacturing PMI gauged by Markit surprised investors today, advancing to 54.3 for the current month vs. estimates at 53.6 and January’s 53.9.
DXY important levels
The index is now down 0.01% at 94.47 with the next resistance at 94.89 (high Feb.20) followed by 95.10 (high Feb.12) and then 95.23 (high Feb.11). On the downside, a break below 93.90 (low Feb.19) would aim for 93.87 (low Feb.17) and finally 93.39 (low Feb.3).