5 Jun 2015
DXY off highs, eases to 96.30
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, has left the area of session highs near 97.00 and is now navigating the mid-96.00s.
DXY keeps daily gains, weekly losses
In spite of the sharp correction higher post-Payrolls today, the dollar is about to close the first week with losses after two consecutive advances. One of the salient points affecting the greenback this week were the positive results from the labour market in the US economy: the ADP report, Initial Claims and Non-farm Payrolls all bettered previous estimates, confirming the strong pace in the sector.
The mentioned set of data gave some oxygen to the USD, which has been pounded throughout the wee in response to a continuous sell off in the German debt market, lifting Bund yields and sustaining the solid recovery in the riskier assets.
DXY relevant levels
The index is now gaining 0.94% at 96.35 with the initial resistance at 96.91 (high Jun.5) followed by 97.68 (high Jun.1) and finally 97.77 (high May 27). On the other hand, a breakdown of 95.36 (low Jun.5) would aim for 94.73 (low Jun.4) en route to 94.09 (low May 19).
DXY keeps daily gains, weekly losses
In spite of the sharp correction higher post-Payrolls today, the dollar is about to close the first week with losses after two consecutive advances. One of the salient points affecting the greenback this week were the positive results from the labour market in the US economy: the ADP report, Initial Claims and Non-farm Payrolls all bettered previous estimates, confirming the strong pace in the sector.
The mentioned set of data gave some oxygen to the USD, which has been pounded throughout the wee in response to a continuous sell off in the German debt market, lifting Bund yields and sustaining the solid recovery in the riskier assets.
DXY relevant levels
The index is now gaining 0.94% at 96.35 with the initial resistance at 96.91 (high Jun.5) followed by 97.68 (high Jun.1) and finally 97.77 (high May 27). On the other hand, a breakdown of 95.36 (low Jun.5) would aim for 94.73 (low Jun.4) en route to 94.09 (low May 19).