7 Aug 2015
US Dollar clinches highs above 98.00
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main competitors, is trading on a firmer footing above the 98.00 barrier on Friday.
US Dollar boosted by US data
The greenback has managed to break above the initial dullness and reclaimed the 98.00 handle after today’s US labour market releases. In fact, Non-farm Payrolls showed that the economy created 215K jobs during July, a tad lower than the 222K anticipated, albeit above the psychological 200K threshold. On the brighter side, the key Average Hourly Earning rose 0.2% inter-month and 2.1% over the last twelve months.
These results leave intact the likeliness of the Federal Reserve hiking in September, although further releases still remain in the pipeline to be assessed until the next meeting.
US Dollar relevant levels
As of writing the index is gaining 0.40% at 98.22 and a break above 98.46 (high Apr.21) would target 98.73 (high Apr.16) en route to 99.18 (high Apr.9). On the flip side, the immediate support aligns at 97.52 (low Aug.7) followed by 97.21 (low Aug.4) and finally 96.29 (low Jul.27).
US Dollar boosted by US data
The greenback has managed to break above the initial dullness and reclaimed the 98.00 handle after today’s US labour market releases. In fact, Non-farm Payrolls showed that the economy created 215K jobs during July, a tad lower than the 222K anticipated, albeit above the psychological 200K threshold. On the brighter side, the key Average Hourly Earning rose 0.2% inter-month and 2.1% over the last twelve months.
These results leave intact the likeliness of the Federal Reserve hiking in September, although further releases still remain in the pipeline to be assessed until the next meeting.
US Dollar relevant levels
As of writing the index is gaining 0.40% at 98.22 and a break above 98.46 (high Apr.21) would target 98.73 (high Apr.16) en route to 99.18 (high Apr.9). On the flip side, the immediate support aligns at 97.52 (low Aug.7) followed by 97.21 (low Aug.4) and finally 96.29 (low Jul.27).