13 May 2015
DXY testing 94.00 on data
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, is accelerating its decline on Wednesday, now hovering over the key support at 94.00 the figure.
DXY hurt by Retail Sales
The dollar is now testing levels last seen in February around the 94.00/93.90 area, where the selling pressure now seems to have met quite a decent buffer. The weakness surrounding the dollar grew bigger following the lacklustre results from the retail sales in the US economy during April: headline sales came in flat inter-month, while they’ve expanded 0.1% excluding the Autos sector.
In addition, Export prices contracted at a monthly pace of 0.7% and Import prices dropped 0.3% vs. previous estimates at 0.1% and 0.3% respectively.
DXY relevant levels
The index is now retreating 0.57% at 93.99 and a drop below 93.83 (low May 13) would aim for 93.80 (low Feb.17) and then 93.53 (low Feb.6). On the upside, the immediate resistance lines up at 95.25 (high May 11) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29).
DXY hurt by Retail Sales
The dollar is now testing levels last seen in February around the 94.00/93.90 area, where the selling pressure now seems to have met quite a decent buffer. The weakness surrounding the dollar grew bigger following the lacklustre results from the retail sales in the US economy during April: headline sales came in flat inter-month, while they’ve expanded 0.1% excluding the Autos sector.
In addition, Export prices contracted at a monthly pace of 0.7% and Import prices dropped 0.3% vs. previous estimates at 0.1% and 0.3% respectively.
DXY relevant levels
The index is now retreating 0.57% at 93.99 and a drop below 93.83 (low May 13) would aim for 93.80 (low Feb.17) and then 93.53 (low Feb.6). On the upside, the immediate resistance lines up at 95.25 (high May 11) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29).