1 Aug 2013
US Dollar Index retreats from highs
FXstreet.com (Edinburgh) -The greenback, gauged by the US Dollar Index, is marching firmly on Thursday and posting multi-day highs beyond the key resistance at 82.00.
DXY backed by better US data
The USD found extra fuel after the weekly report on the US labour market showed Initial Claims dropped to a more than 5-year low to 326K in the last week. The sentiment was boosted further after the ISM manufacturing and the Markit manufacturing PMI surged beyond forecasts. The USD is now better positioned to extend the ascent ahead of tomorrow’s US Payrolls, as consensus expects a solid print.
DXY levels to watch
As of writing the index is advancing 0.65% at 82.18 facing the next resistance at 82.20 ahead of 82.40 and finally 82.55. On the downside, a breach of 81.60 would expose 81.40 and then 81.25.
DXY backed by better US data
The USD found extra fuel after the weekly report on the US labour market showed Initial Claims dropped to a more than 5-year low to 326K in the last week. The sentiment was boosted further after the ISM manufacturing and the Markit manufacturing PMI surged beyond forecasts. The USD is now better positioned to extend the ascent ahead of tomorrow’s US Payrolls, as consensus expects a solid print.
DXY levels to watch
As of writing the index is advancing 0.65% at 82.18 facing the next resistance at 82.20 ahead of 82.40 and finally 82.55. On the downside, a breach of 81.60 would expose 81.40 and then 81.25.