11 May 2015
DXY challenging 95.00
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, keeps its gains at the beginning of the week and is now hovering over the 95.00 mark.
DXY focus on Eurogroup meeting
Absent relevant releases in both Euroland and the US, today’s main event has been the Eurogroup meeting with Greece being in the top of the agenda. Market sentiment remains sidelined although a generalized bias towards the USD still persists while market participants expect some form of statement or press conference following the end of the meeting in Brussels.
The only publication in the US calendar today was the Labor Market Conditions Index, coming in at 1.9 during April vs. -0.3 posted the previous month.
DXY relevant levels
The index is now advancing 0.23% at 95.01 with the initial resistance at 95.25 (high May 11) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29). On the downside, a drop below 94.80 (low May 11) would open the door to 93.89 (low May 7) and then 93.80 (low Feb.17).
DXY focus on Eurogroup meeting
Absent relevant releases in both Euroland and the US, today’s main event has been the Eurogroup meeting with Greece being in the top of the agenda. Market sentiment remains sidelined although a generalized bias towards the USD still persists while market participants expect some form of statement or press conference following the end of the meeting in Brussels.
The only publication in the US calendar today was the Labor Market Conditions Index, coming in at 1.9 during April vs. -0.3 posted the previous month.
DXY relevant levels
The index is now advancing 0.23% at 95.01 with the initial resistance at 95.25 (high May 11) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29). On the downside, a drop below 94.80 (low May 11) would open the door to 93.89 (low May 7) and then 93.80 (low Feb.17).