6 May 2015
DXY sub-95.00, ADP eyed
FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback vs. its main rivals, continues its decline on Wednesday, navigating levels below the 95.00 handle.
DXY focus on US data
The dollar lost the 95.00 handle late on Tuesday amidst a renewed sentiment towards the risk appetite, despite mounting concerns on Greece and not bad results from the US calendar in the first half of the week.
Ahead in the session, the ADP Employment Change is due, with prior surveys expecting the US private sector to have added 200K jobs during April. The labour market gauge could give a hint of the situation in the employment sector in light of the upcoming and more significant Non-farm Payrolls on Friday (225K exp).
DXY relevant levels
The index is now retreating 0.34% at 94.75 and a break below 94.56 (low May 6) would aim for 94.50 (low May 1) and then 94.40 (low Apr.30). On the upside, the initial hurdle lines up at 95.62 (high May 4) ahead of 96.18 (high Apr.29) and finally 96.93 (high Apr.28).
DXY focus on US data
The dollar lost the 95.00 handle late on Tuesday amidst a renewed sentiment towards the risk appetite, despite mounting concerns on Greece and not bad results from the US calendar in the first half of the week.
Ahead in the session, the ADP Employment Change is due, with prior surveys expecting the US private sector to have added 200K jobs during April. The labour market gauge could give a hint of the situation in the employment sector in light of the upcoming and more significant Non-farm Payrolls on Friday (225K exp).
DXY relevant levels
The index is now retreating 0.34% at 94.75 and a break below 94.56 (low May 6) would aim for 94.50 (low May 1) and then 94.40 (low Apr.30). On the upside, the initial hurdle lines up at 95.62 (high May 4) ahead of 96.18 (high Apr.29) and finally 96.93 (high Apr.28).