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20 Apr 2015
DXY down from 98.00
FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback vs. its main competitors, is now deflating from session highs just above the 98.00 handle.
DXY keeps gains
The index remains on track to extend the recovery from last week’s deep pullback to the 97.00 area, although today’s upside momentum run out of legs above the 98.00 mark.
Nothing relevant in terms of data releases in the US economy, with only the Chicago Fed National Activity Index dropping to -0.42 for the month of March. In the meantime, Greek jitters appear to be the main driver behind the risk-off trade, as markets shifter their focus on the Eurogroup meeting on Friday.
DXY relevant levels
The index is now advancing 0.24% at 97.75 with the next hurdle at 98.66 (high Mar.31) ahead of 99.18 (high Apr.9) and then 99.36 (high Apr.15). On the other hand, a breakdown of 97.00 (low Apr.17) would target 96.93 (low Apr.7) en route to 96.33 (low Apr.6).
DXY keeps gains
The index remains on track to extend the recovery from last week’s deep pullback to the 97.00 area, although today’s upside momentum run out of legs above the 98.00 mark.
Nothing relevant in terms of data releases in the US economy, with only the Chicago Fed National Activity Index dropping to -0.42 for the month of March. In the meantime, Greek jitters appear to be the main driver behind the risk-off trade, as markets shifter their focus on the Eurogroup meeting on Friday.
DXY relevant levels
The index is now advancing 0.24% at 97.75 with the next hurdle at 98.66 (high Mar.31) ahead of 99.18 (high Apr.9) and then 99.36 (high Apr.15). On the other hand, a breakdown of 97.00 (low Apr.17) would target 96.93 (low Apr.7) en route to 96.33 (low Apr.6).