26 May 2015
DXY advances beyond 97.00
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main rivals, is extending its upbeat momentum above the 97.00 handle so far.
DXY boosted by US data
The dollar is prolonging its upside for the second consecutive week so far, on track to recover the ground lost after the rejection from the 100.00 handle in mid-April.
The index has gathered further traction today after the US calendar surprised markets to the upside, with Durable Goods Orders, New Home Sales and Consumer Confidence all coming in above forecasts. The auspicious results add to the rising sentiment supporting a Fed’s rate hike in the upcoming months, in line with recent comments by Chairwoman J.Yellen and VP S.Fischer.
DXY relevant levels
The index is now advancing 1.23% at 97.19 and a breakout of 97.34 (high May 26) would open the door to 97.55 (high Apr.24) and then 98.41 (high Apr.23). On the downside, the immediate support lines up at 94.82 (low May 22) followed by 94.08 (low May 19) and finally 93.27 (low May 18).
DXY boosted by US data
The dollar is prolonging its upside for the second consecutive week so far, on track to recover the ground lost after the rejection from the 100.00 handle in mid-April.
The index has gathered further traction today after the US calendar surprised markets to the upside, with Durable Goods Orders, New Home Sales and Consumer Confidence all coming in above forecasts. The auspicious results add to the rising sentiment supporting a Fed’s rate hike in the upcoming months, in line with recent comments by Chairwoman J.Yellen and VP S.Fischer.
DXY relevant levels
The index is now advancing 1.23% at 97.19 and a breakout of 97.34 (high May 26) would open the door to 97.55 (high Apr.24) and then 98.41 (high Apr.23). On the downside, the immediate support lines up at 94.82 (low May 22) followed by 94.08 (low May 19) and finally 93.27 (low May 18).