29 Aug 2013
US Dollar Index inching higher, eyes 82.00
FXstreet.com (Edinburgh) -The greenback, tracked by the US Dollar Index, is advancing for the second consecutive session on Thursday, eyeing 82.00 amidst the prevailing risk aversion.
DXY vs. US docket
Despite the Syrian front being somewhat calmer today, the situation remains fragile and keeps weighing on the risk-associated assets. The USD might find extra support from the release of the GDP Annualized for the second quarter and Initial Claims, with consensus expecting an expansion of 2.2% and a drop to 329K, respectively. “Mostly unimpressive US data should limit demand for USD in coming days but this should prove a buying opportunity on a multi-week view”, recommended the Westpac Global Strategy Group.
DXY key levels
At the moment the index is up 0.53% at 81.84 and a surpass of 81.94 (high Aug.15) would bring of 82.50 (high Aug.2) and then 83.12 (high Jul.15). On the downside, the initial support lies at 80.86 (low Aug.8) ahead of 80.75 (low Aug.20) and then 80.50 (low Jun.19).
DXY vs. US docket
Despite the Syrian front being somewhat calmer today, the situation remains fragile and keeps weighing on the risk-associated assets. The USD might find extra support from the release of the GDP Annualized for the second quarter and Initial Claims, with consensus expecting an expansion of 2.2% and a drop to 329K, respectively. “Mostly unimpressive US data should limit demand for USD in coming days but this should prove a buying opportunity on a multi-week view”, recommended the Westpac Global Strategy Group.
DXY key levels
At the moment the index is up 0.53% at 81.84 and a surpass of 81.94 (high Aug.15) would bring of 82.50 (high Aug.2) and then 83.12 (high Jul.15). On the downside, the initial support lies at 80.86 (low Aug.8) ahead of 80.75 (low Aug.20) and then 80.50 (low Jun.19).