18 May 2015
DXY firmer near 93.70
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main rivals, continues on track to recover ground lost around the 93.65/70 band.
DXY focus on US data
The greenback will keep its focus on the US calendar under the strict vigilance of the Federal Reserve, ahead of the upcoming June meeting. The performance of the US dollar and the timing of the rates lift-off will remain ‘data-dependent’, although the fragile situation in Greece is behind today’s upside.
Ahead in the session, the Housing Market Index tracked by NAHB is only due in the US economy, expected to have improved a tad to 57 in May from April’s 56.
DXY relevant levels
The index is now up 0.59% at 93.68 facing the next resistance at 94.02 (high May 15) followed by 94.59 (high May 13) and finally 95.25 (high May 11). On the flip side, a breakdown of 93.17 (low May 14) would open the door to 92.51 (low Jan.22) and then 92.20 (low Jan.21).
DXY focus on US data
The greenback will keep its focus on the US calendar under the strict vigilance of the Federal Reserve, ahead of the upcoming June meeting. The performance of the US dollar and the timing of the rates lift-off will remain ‘data-dependent’, although the fragile situation in Greece is behind today’s upside.
Ahead in the session, the Housing Market Index tracked by NAHB is only due in the US economy, expected to have improved a tad to 57 in May from April’s 56.
DXY relevant levels
The index is now up 0.59% at 93.68 facing the next resistance at 94.02 (high May 15) followed by 94.59 (high May 13) and finally 95.25 (high May 11). On the flip side, a breakdown of 93.17 (low May 14) would open the door to 92.51 (low Jan.22) and then 92.20 (low Jan.21).